Motiv Power Raises $7.3 Million for Electric Truck Powertrain Production
Motiv Power Systems, an electric truck leader and supplier of control systems to the growing electric truck market, has raised $7.3 million in growth capital from investors led by Colorado’s Magness Investment Group.
The funding comes as the second Motiv-equipped all-electric school bus is delivered to Kings Canyon Unified School District.
The Motiv electric Powertrain Control System (ePCS) can electrify any truck or bus chassis with a variety of commercially-available battery packs and motors.
The company’s battery packs and motor are installed to replace the engine and transmission of a new incomplete chassis such as the Ford E450 in a ship-through modification.
This process, common in the truck industry, is similar to a Compressed Natural Gas ship-through modification and means minimal changes between the fossil fuel and electric versions of the final vehicle.
Existing truck and bus builders who already use these incomplete chassis can build and sell electric versions of their existing truck and bus models.
Category: General Update, Green, Vehicles
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