{"id":13528,"date":"2021-11-16T05:20:51","date_gmt":"2021-11-16T10:20:51","guid":{"rendered":"https:\/\/autosector.com\/auto\/?p=13528"},"modified":"2021-11-16T05:20:51","modified_gmt":"2021-11-16T10:20:51","slug":"tevva-raises-us57m-to-scale-up-manufacturing","status":"publish","type":"post","link":"http:\/\/autosector.com\/?p=13528","title":{"rendered":"Tevva raises US$57m to scale up manufacturing &#8211; Just Auto"},"content":{"rendered":"<p>Electric and hydrogen truck company, Tevva, has raised US$57m by way of an over-subscribed private placement from new and existing investors to fit out its new London based production facility and scale up manufacturing.\n<\/p>\n<p><span>The fundraising follows the launch of the new Tevva Truck, the company\u2019s first 7.5-tonne electric lorry designed for mass production.<\/span>\n<\/p>\n<p>The company says it is the first British-designed 7.5-tonne electric truck with hydrogen range extender intended for mass production in the UK.<\/p>\n<p><span>First deliveries of its third-generation vehicle are scheduled from Q3, 2022. With the funding in hand, Tevva will complete engineering build, test and design, as well as production line assembly and tooling during the coming months.<\/span>\n<\/p>\n<p>The company intends to produce 3,000 trucks per annum by 2023, creating up to 1,000 jobs.<span>\u00a0<\/span><\/p>\n<p><span>The global electric truck market is expected to grow from US$1.15bn in 2020 to US$14.19bn by 2027, maintains Tevva.\u00a0 The manufacturer<\/span><span>\u00a0has now raised a total of US$70m during the past 12 months.<\/span>\n<\/p>\n<p><span>\u201cWe are thrilled to have received this latest investment and excited to kick off production of our electric truck in London,\u201d said Tevva founder and CEO, Asher Bennett.<\/span>\n<\/p>\n<p>\u201cFollowing hot on the heels of COP26, this funding represents a rapid response to the latest targets and commitments.\u00a0 Mass production of our third-generation truck will help fleet operators take tangible action without compromising the economics of their business and, we believe, can enable ambitious government targets to be met ahead of schedule.\n<\/p>\n<p><span>\u201cOver the coming years we will continue to develop new electric and hydrogen truck technologies and execute our innovation roadmap to enable our vehicles to go further, whilst optimising driver experience and vehicle safety.\u201d\u00a0<\/span>                    <!-- \n\n<div id=\"resultnew_secondary\"> --><\/p>\n<p>\t\t\t\t\t\t\t<!-- \/14453196\/Verdict\/Verdict_In_Article --><\/p>\n<p><!-- \/14453196\/Verdict\/Verdict-In-Article-Mobile --> <\/p>\n<p>\t\t\t\t\t\t <!--\n\n<aside class=\"c-in-post-report new-tmt u-mb-5 u-px-0 u-py-0\">\n                       \n\n<article class=\"c-in-post-report__article\">\n                        \n\n<div class=\"c-in-post-report__wrapper u-border-0 u-px-0 u-py-0\">\n\t\t\t\t\t\t  \n\n<figure class=\"c-post-figure c-post-figure--4-3 c-post-figure--vertical c-post-figure--vertical tmt-img hide-for-small-only\">\n                            <a href=\"https:\/\/hot-topics.globaldata.com\/reports\/tech-media-and-telecom-themes-2021-thematic-research\/\" class=\"c-post-figure__link c-post-figure__image-container\" target=\"_blank\" rel=\"noopener\">\n                              <img decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAP\/\/\/wAAACH5BAEAAAAALAAAAAABAAEAAAICRAEAOw==\" data-src=\"\/wp-content\/themes\/goodlife-wp-B2B\/assets\/img\/tmt-banner.png\" alt=\"Covid-19 chart\" class=\"c-post-figure__image lazyload\" \/>\n                            <\/a>\n                          <\/figure>\n\n \n\t\t\t\t\t\t  \n\n<div class=\"c-in-post-report__content u-pt-5\">\n                           \n\n<h6>Thematic Reports<\/h6>\n\n\n                            \n\n<h5 class=\"u-mt-0\">Are you worried about the pace of innovation in your industry?<\/h5>\n\n\n                            \n\n<p class=\"c-in-post-report__tagline u-mb-4 u-mt-2\">GlobalData's TMT Themes 2021 Report tells you everything you need to know about disruptive tech themes and which companies are best placed to help you digitally transform your business.<\/p>\n\n\n\n                            <a href=\"https:\/\/hot-topics.globaldata.com\/reports\/tech-media-and-telecom-themes-2021-thematic-research\/\" class=\"button primary  u-pt-3 u-py-3\" target=\"_blank\" rel=\"noopener\">Find out more<\/a>\n                          <\/div>\n\n\n                        <\/div>\n\n\n                      <\/article>\n\n\n                    <\/aside>\n\n\n                    <\/div>\n\n  -->                <\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"S46enqyxWZ\" readability=\"0\">\n<p><a href=\"https:\/\/tevva.com\/tevva-secures-us57-million-funding-to-put-electric-hydrogen-trucks-on-the-road-in-2022\/\">TEVVA SECURES US$57 MILLION FUNDING TO PUT ELECTRIC &amp; HYDROGEN TRUCKS ON THE ROAD IN 2022<\/a><\/p>\n<\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>Electric and hydrogen truck company, Tevva, has raised US$57m by way of an over-subscribed private placement from new and existing investors to fit out its new London based production facility and scale up manufacturing. The fundraising follows the launch of the new Tevva Truck, the company\u2019s first 7.5-tonne electric lorry designed for mass production. The [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":8313,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[5],"tags":[],"class_list":["post-13528","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-manufacturing"],"_links":{"self":[{"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/posts\/13528","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=13528"}],"version-history":[{"count":0,"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/posts\/13528\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/media\/8313"}],"wp:attachment":[{"href":"http:\/\/autosector.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=13528"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=13528"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=13528"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}