""The fresh funding round will help the company scale production capacity at its Glasgow facility, with up to 300 new manufacturing jobs expected to be created to fulfil a backlog of 246 preliminary customer orders worth £17.4 million. The investment marks a key step in Munro's ambition to capture a fast-growing niche in the global electrification push: heavy-duty, all-terrain vehicles capable of replacing diesel fleets in some of the world's most demanding industries.""
""This investment validates the critical need for zero-emission solutions in heavy industry," said Russel Peterson, Co-founder and CEO of Munro EV. "Mining companies, defence interests, and construction firms are actively seeking alternatives to diesel-powered vehicles. The M-Series delivers capability, durability, and sustainability-without compromising performance." Peterson added that Munro's design also aligns with the UK Ministry of Defence's Land Mobility Strategy, which aims to replace ageing Land Rover and Pinzgauer vehicles with cleaner, more capable options.""
Munro EV secured £2 million from existing backer Elbow Beach and other investors to accelerate production of its all-electric M-Series 4x4s. The funding will expand production capacity at the Glasgow facility and is expected to create up to 300 manufacturing jobs to meet a backlog of 246 preliminary orders worth £17.4 million. The M-Series targets mining, defence, and construction markets with a 1,000kg payload, 170 miles real-world range, and rugged engineering for extreme environments. Initial deliveries have gone to Gleneagles Hotel and Denbighshire Council, with plans to scale to 5,000 units per year within six years.
Read at Business Matters
Unable to calculate read time
Collection
[
|
...
]