A previous release of the post inaccurately stated that Evolectric had already received the investment.
Evolectric, a Long Beach, CA-based Electric Vehicle (EV) technology company, is to raise USD15M from Seismic Capital.
Seismic Capital Company announced its intent to make the investment in the company, which aims to use the funds to scale and accelerate delivery of its pipeline of customer orders.
Led by co-CEOs Jakson Alvarez and Bill Beverley, Evolectric specializes in electrified transportation and battery technologies to convert fuel-guzzling and polluting commercial fleets to EVs. Its distributed network of installers and service centers is targeting 10,000 vehicle conversions a year by onboarding 100 garages, each converting 100 vehicles.
FinSMEs
15/09/2023
Updated on October, 2, 2023.