Motiv Power Systems

Manufactures medium-duty electric trucks and buses

Foster City, California, United States

About Motiv Power Systems

Motiv Power Systems manufactures medium-duty electric trucks and buses, focusing on step vans, shuttle buses, and box trucks for commercial use. Their vehicles are designed for daily operations, promoting efficient and sustainable transportation of people and goods. Motiv's products work by utilizing battery electric technology, which eliminates the need for fossil fuels, thus contributing to zero-emission goals. The company distinguishes itself from competitors by offering not only vehicles but also a complete suite of services, including charging infrastructure and financing options, making it easier for clients to transition to electric fleets. Motiv's goal is to reduce reliance on fossil fuels and support clients in lowering their total cost of ownership while enhancing reliability and reducing maintenance costs.

Foster City, CaliforniaHeadquarters
2009Year Founded
$183.1MTotal Funding
SERIES_CCompany Stage
Automotive & Transportation, EnergyIndustries
51-200Employees

Benefits

Health Insurance
Dental Insurance
Vision Insurance
401(k) Retirement Plan
401(k) Company Match
Unlimited Paid Time Off
Paid Holidays
Mental Health Support
Tuition Reimbursement
Wellness Program
Professional Development Budget

Risks

Increased competition from new entrants like Nikola and Isuzu Trucks of America.
Challenges in scaling operations to meet growing EV demand.
Dependence on large clients like Purolator for significant orders.

Differentiation

Motiv Power Systems offers medium-duty electric trucks and buses with 98% uptime.
The company provides comprehensive fleet solutions, including charging infrastructure and financing.
Motiv serves diverse clients, from logistics companies to universities and corporate campuses.

Upsides

Growing demand for electric delivery vehicles due to e-commerce expansion.
Government incentives for EV adoption are increasing in North America.
Technological innovations in charging infrastructure are becoming more widespread.

Funding

Total raised$183.12 M
Latest valuation$175.00 M
StageSERIES_C
SERIES C
11/30/2022
$35
$175.00 M
CONVERTIBLE
7/31/2020
$15
SERIES B
9/30/2019
$13
$65.00 M
GRANT
7/31/2017
$7
GROWTH EQUITY VC
5/31/2014
$7
EARLY VC
6/30/2010
N/A
$1.25 M