Motiv Power Systems, a company delivering medium-duty electric truck and bus chassis and related charging infrastructure, secured $20 million in financing from Crescent Cove Advisors, LP. The initial transaction closed in December of 2020, with additional funding expected at the close of Motiv’s Series C round, which Motiv is in the process of raising.
In 2020, Motiv had record customer orders and secured $15 million in funding from GMAG Holdings Corp. This new funding traunch will help Motiv scale operational and manufacturing capabilities to meet demand and continue to provide high-touch customer support.
Motiv’s EPIC product line is available for multiple configurations, including step vans, box trucks, work trucks, shuttle buses, school buses, trolleys, and specialty vehicles. Built on Ford eQVM-approved platforms such as the F-59, E-450, and F-53, the company provides reliable, high-performing EV technology for medium-duty fleets.
In addition, the final stage of the vehicle build is performed by industry-leading bus and truck partners, with the same bodies that fleets come to rely on, providing an easy transition to electric.
Motiv’s Ford eQVM-approved and CARB-certified EV technology operates at more than 98% uptime today and uses high-performance BMW batteries for many configurations, including step vans, box trucks, work trucks, shuttle buses, school buses, trolleys, and more. Motiv has delivered 120 that have traveled more than one million miles across North America.