EV truck maker Tevva 're-engages' with potential merger partners
© Reuters. FILE PHOTO: Engineers at electric maker Tevva work on a pre-production prototype truck at the startup's UK plant in Tilbury, Britain, January 14, 2022. Picture taken January 14, 2022. REUTERS/Nick Carey
The two companies announced their planned merger in August, giving Tevva access to U.S. production and targeting revenue of up to $1.5 billion in 2028, but Mesa, Arizona-based ElectraMeccanica terminated the agreement citing"failures by Tevva to disclose ... material information." Tevva said it has"re-engaged with a number of investors and public companies looking for a merger," adding it was"confident that from these various opportunities it will secure both medium- and long-term financing to complete its business plan."
After attracting billions from investors just a few years ago, many EV startups have struggled as rising inflation and interest rates have shut off access to funding.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
EV truck maker Tevva 're-engages' with potential merger partnersBritish electric truck maker Tevva has 're-engaged' with a number of possible merger partners following ElectraMeccanica's (SOLO.O) decision earlier this month to cancel their planned deal and said on Monday it has a number of trucks in production.
Read more »
Family raising money to send body of food truck owner shot, killed near Hobby Airport back to MexicoRoberto Almaguer was shot and killed on Oct. 13, defending his food truck from a robber.
Read more »
Stolen food truck recovered by Oakland police, but key equipment missingA small business owner is counting her blessings after her stolen food truck was recovered by Oakland police.
Read more »
Man on run for 35 years captured in KemahRoberto Almaguer was shot and killed on Oct. 13, defending his food truck from a robber.
Read more »
Thieves dramatically smash truck through front of Florida jewelry store -- only to leave empty-handed: videoDramatic security footage shows the moment three masked thieves smash a truck through the front of a Florida jewelry store — and then leave empty-handed.
Read more »
Veteran NYC crossing guard struck and killed by dump truck while working in QueensNeighbors, friends, and the family of 63-year-old Krystyna Naprawa are in mourning after the crossing guard was struck and killed by a dump truck Friday morning.
Read more »