Motiv Power Systems, maker of the EPIC all-electric chassis for buses and trucks, has secured $60 million in equity funding, led by investors GMAG Holdings and Winnebago. The funds will support the overall growth of Motiv, which includes opening a new engineering and manufacturing facility in Detroit and facilitating further growth in the large-fleet customer segment.
In 2018, Winnebago struck a deal with Motiv to use its e-chassis in an electric RV designed for commercial use, with the promise to financially invest in Motiv at a later date. Motiv hopes that establishing operations in Detroit will strengthen its Midwest presence, bring it closer to regional customers, and enable manufacturing growth through partners.
Collectively, vehicles powered by Motiv’s EPIC chassis have accumulated over 750,000 real-world miles, driven by customers like Aramark, Bimbo Bakeries, and the USPS.
“As we have started deploying our products to some of the largest fleet customers in the US, we have been looking to expand our workforce and facilities to better support the growing demand we are seeing in the market,” said Motiv CEO Matt O’Leary. “GMAG Holdings and Winnebago are setting Motiv up for success and leadership as the market for commercial EVs approaches an inflection point.”
Source: Motiv Power Systems