Electric Truck Startup Raises $13.5 Million from India’s Bharat Forge
Tevva develops electric trucks with range extenders based on submarine technology
British and Israeli electric truck company Tevva Motors Ltd. announced last week it has raised $13.5 million (£10 million) from India’s Bharat Forge Limited (BFL). Tevva develops electric trucks with range extenders based on technology used in submarines. Founded in 2012 by CEO Asher Bennett, a former submarine officer in the Israeli Navy, Tevva is based in Essex, England.
“The big challenge for the electric truck market is that it is handicapped by range anxiety and a lack of charging infrastructure. But this was a problem that submarine engineers had already solved,” Mr. Bennett said in a statement. “I remember thinking, what if I could develop tailor-made energy management systems for electric trucks in the same way that Navy experts have done for submarines.”