August 24, 2020

Electric Vehicle Chassis Provider Motiv Announces Fresh Funding

Motiv Power Systems, which provides chassis and software systems for medium-duty trucks and buses, said on Monday it had secured $15 million in additional funding from GMAG Holdings Corp to fund technology and scaling up its manufacturing operations.

The latest funding follows a $60 million funding round last October led by GMAG, Motiv’s main investor, and recreational vehicle maker Winnebago Industries Inc. Motiv has provided chassis for customers like Aramark and electrifies the E-450, a medium-duty truck made by Ford Motor Co.