The insolvency of Tevva Motors comes around six months after the failed merger with the Canadian vehicle manufacturer ElectraMeccanica. Since then, Tevva has again contacted a number of investors and listed companies seeking a merger. However, nothing has been finalised yet. According to Tevva Motors, the protection from creditors is now intended to keep its back free to find new investors after all.
A statement issued by the company said: Despite positive customer interest in Tevva and its products, current global economic conditions have created a challenging environment for electric vehicle startups. As a consequence, we have filed notice of intent to enter administration with the court while the board is pursuing investment that secu…
Read the full article at: https://www.electrive.com/2024/05/15/british-electric-truck-manufacturer-tevva-is-insolvent/