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Motiv secures $15 million to convert trucks to electric vehicles

ImpactAlpha, August 25 – With states like California passing policies to accelerate electric vehicle adoption, Motiv’s technology offers an intermediary step for commercial vehicle and fleet owners. The San Francisco-based company makes chassis that can convert gas-powered vehicles to electricity. Clients include the U.S. Postal Service. 

Motiv raised $15 million in convertible notes from existing investor GMAG Holdings. The funding follows a $20 million raise by commercial electric vehicle maker Xos Trucks and word of electric microbus company Canoo’s plans to go public.

Last year, Motiv secured an undisclosed amount of funding from camper maker Winnebago.

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