Motiv Power Systems

Motiv Power Systems

Manufactures medium-duty electric trucks and buses

About Motiv Power Systems

Simplify's Rating
Why Motiv Power Systems is rated
C+
Rated C on Competitive Edge
Rated B on Growth Potential
Rated C on Rating Differentiation

Industries

Automotive & Transportation

Energy

Company Size

51-200

Company Stage

Series C

Total Funding

$183.1M

Headquarters

Foster City, California

Founded

2009

Overview

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 serves a variety of clients, including large fleets and organizations like Bimbo Bakeries and Canada Post, showcasing their ability to meet diverse transportation needs. Unlike many competitors, Motiv offers a complete package that includes not only the vehicles but also charging infrastructure, financing options, and incentives, making it easier for clients to transition to electric fleets. The company's goal is to reduce reliance on fossil fuels and promote zero-emission vehicles, ultimately lowering the total cost of ownership for fleet managers while ensuring high reliability and reduced maintenance costs.

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Simplify's Take

What believers are saying

  • 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.

What critics are saying

  • 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.

What makes Motiv Power Systems unique

  • 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.

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Funding

Total Funding

$183.1M

Above

Industry Average

Funded Over

6 Rounds

Series C funding is usually for startups that are doing well and are looking for more money to fuel major growth, such as acquiring other companies, expanding into global markets, or launching new product lines. Investors typically include larger venture capital firms and private equity.
Series C Funding Comparison
Below Average

Industry standards

$50M
$40M
Figma
$50M
Medium
$62M
SeatGeek
$100M
Oura

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

Growth & Insights and Company News

Headcount

6 month growth

2%

1 year growth

1%

2 year growth

1%
PR Newswire
Aug 27th, 2024
Automobility La 2024: Global Automotive Press And Industry Day Announces Exciting Additions To Inaugural Fleet Showcase And Main Stage Program

LOS ANGELES, Aug. 27, 2024 /PRNewswire/ -- The Los Angeles Auto Show® (LA Auto Show) announced a series of exciting additions to the AutoMobility LA® 2024 (AMLA 2024) program. AMLA 2024 will take place on Thursday, November 21 at the Los Angeles Convention Center and features a new, expanded agenda for this year. The premier annual industry and media day is a must-attend event for the entire automotive ecosystem, and will host thousands of automotive executives, credentialed journalists and media representatives, government officials, policymakers, technologists, designers, dealers, industry analysts, investors, thought-leaders, content creators and influencers.Just Added: More Exhibitors in the Fleet Mobility ShowcaseAs previously announced, AutoMobility LA 2024 will present its inaugural Fleet Mobility Showcase, an exhibition of the latest vehicle, technology, and product innovations in the fleet sector, featuring everything from passenger cars to Class 8 heavy duty trucks. In addition to Ford Pro, Nikola, and Isuzu Trucks of America, the LA Auto Show is proud to announce the addition of the following exhibitors:A wide range of EVs, HFCEVs, and ICE products will be on display in the showcase. Attendees can interact with OEMs, explore their latest product offerings, and enjoy ride and drive experiences in many of the vehicles onsite.Just Added: More Speakers Taking the AMLA Main StageAMLA's main stage and 2024 content program will feature leading minds in automotive and technology

WICZ
May 16th, 2024
Motiv Names Scott Griffith as Chief Executive Officer and Board Member

Motiv names Scott Griffith as Chief Executive Officer and board member.

CleanTechnica
May 10th, 2024
Motiv Completes Delivery Of Additional 55 Electric Trucks To Purolator

Sign up for daily news updates from CleanTechnica on email. Or follow us on Google NewsMotiv, a leading Original Equipment Manufacturer (OEM) of class 4-6 electric trucks and buses driving the backbone of modern commerce, today announced it has fully completed the delivery of 55 Motiv electric trucks to Purolator, a leading integrated freight, package, and logistics solutions provider. Purolator ordered the additional vehicles last year following a successful pilot of five Motiv electric trucks in 2021. The new trucks bring Purolator’s total Motiv truck count to 60, which have been deployed to daily routes across Canada in Richmond, B.C., Quebec City, Que., Montreal, Que., and Vancouver, B.C.Purolator’s first five Motiv electric trucks delivered in 2021 have completed tens of thousands of miles of deliveries while reducing tailpipe Greenhouse Gas (GHG) emissions, helping Purolator move toward its 2030 goal of vehicle electrification and reduced GHG emissions.A Motiv support team member was stationed at Purolator’s hub in British Columbia for its pilot, and the company is expanding its support operations across Canada as Purolator adds more Motiv electric trucks to the road.“Integrating Motiv’s trucks into our operations is a step forward in our journey towards reaching 60% electrification of our last-mile delivery vehicles by 2030, and ultimately achieving net-zero emissions by 2050,” said Chris Henry, Director, National Fleet at Purolator. “Motiv’s vehicles and customer support team were an integral part of our electric vehicle pilot in British Columbia and important to our overall success in that pilot as we transition to a zero-emission fleet. Quick responses, short downtime, and onsite service keep our electric fleet moving smoothly.”As the first Canadian courier company to launch fully electric curbside delivery trucks nationally, Purolator has set ambitious goals to be the greenest courier company in Canada

BNN Bloomberg
Feb 29th, 2024
Motiv Power Systems' Electric Shuttle Tops FTA Bus Test, Sets New High Score

Motiv Power Systems collaborates with Turtle Top and Davey Coach to achieve a groundbreaking success in electric bus testing, setting a new industry benchmark.

CleanTechnica
Aug 30th, 2023
Motiv Power Systems Introduces New Electric Truck Series

California-based Motiv Power Systems recently introduced the company’s new Argo Series electric trucks. They can be used for a number of applications, such as shuttle buses, box trucks, step vans, and refrigerated vehicles. Electric vehicles used for personal transportation tend to get the most press these days. There is also a significant amount of bickering online about electric cars, trucks, and SUVs versus their internal combustion engine vehicle counterparts. What is somewhat overlooked is the fact that electrification of transportation includes larger vehicles used in fleets, and these EVs have some advantages over gas and diesel service vehicles.Fortunately, Motiv Power Systems CEO Tim Krauskopf provided some insights and facts about the new trucks for CleanTechnica.What is an Argo electric truck designed to do, and which companies will buy it?The Argo Series is a new all-electric truck featuring the first cab designed from the ground up for medium-duty use, incorporating feedback from real drivers and fleet owners. Argo is designed to support all medium-duty applications across Class 4-6 — including box trucks that support dock-height warehouse loading; buses with 18-30 passengers compared to just 14; refrigerated box trucks; flatbed, bucket lift and work trucks; and many other specialties

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