Motiv Power Systems, a Foster City, CA-based provider of all-electric medium-duty chassis for buses and trucks, secured $60M in Series B equity funding.
The round was led by investors GMAG Holdings Corp. and Winnebago.
The company intends to use the funds to open a new engineering and manufacturing facility in Detroit, Michigan, as well as facilitate further growth in the large-fleet customer segment.
Founded in 2009 by Matt O’Leary, CEO, Motiv Power Systems provides software and technology to electrify medium-duty commercial vehicles. Its EPIC (Electric Powered Intelligent Chassis) are CARB- certified, GSA-approved, and available for many configurations, including step vans, box trucks, work trucks, shuttle buses, school buses, trolleys, and other specialty vehicles. Motiv is a Ford eQVM-approved provider of all-electric chassis for commercial trucks and buses, and benefits from engineering insights and support from Ford to ensure safety and reliability. and follow us on Twitter @motivps, Facebook and LinkedIn.
Collectively, vehicles powered by Motiv’s EPIC chassis have accumulated over 750,000 real-world miles driven by customers such as Aramark, Bimbo Bakeries USA, USPS, the City of Mountain View, over a dozen school districts, and more.
FinSMEs
18/10/2019