British electric truck maker Tevva has "re-engaged" with a number of possible merger partners following ElectraMeccanica's decision earlier this month to cancel their planned deal and said on Monday it has a number of trucks in production. 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, which has so far raised about $140 million from investors, said it had provided "full and open access" to ElectraMeccanica and "will be seeking recourse through due legal process."
Tevva, which has so far raised about USD 140 million from investors, said it had provided "full and open access" to ElectraMeccanica and "will be seeking recourse through due legal process."
Start-up intends to maintain electric truck factory in Essex but will shift headquarters across the pond after agreeing merger deal with US electric vehicle manufacturer ElectraMeccanica
On May 15, 2023, ElectraMeccanica Vehicles Corp. , a designer and manufacturer of electric vehicles revolutionizing the urban driving experience, is pleased to report the filing of the. | May 15, 2023