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Orange EV Raises $35 million to scale electric trucking solutions

Orange EV may not be well-known to the general public, but it has outlasted a lot of early entrants to the commercial EV space, and is now in its 10th year of operations. The company has 450 terminal trucks in use by more than 130 fleets across 28 US states, Canada and the Caribbean.

Yard trucks (aka terminal tractors or yard goats) are one of the best, if not the best, EVs for fleets to implement today, according to a recent report from the North American Council for Freight Efficiency (NACFE), and Orange EV can take much of the credit for electrifying the sector.

Now Orange has closed a $35-million institutional funding round led by S2G Ventures and CCI. The company will use the new investment to scale its manufacturing to meet demand increases, expand to new markets, and develop new technologies for the Class 8 commercial vehicle segment.

Orange says its trucks are cheaper to operate, safer, 10 times more reliable, and higher-rated by drivers and managers compared to legacy diesel trucks. The company says each truck eliminates over 1,700 tons of carbon dioxide emissions over a 15-year lifespan.

“Orange EV’s mission is to deliver electric vehicles that are better than legacy diesel ones in every way—for the earth, people, and the business bottom line,” said Kurt Neutgens, Orange EV co-founder, President and CTO. “With this funding, Orange EV will be able to further scale its impact through continued investment in manufacturing to meet the demand that is outstripping our current facilities, as well as advance R&D to develop and deliver other products.”

Source: Orange EV

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