EV Trucking Solutions Developer Orange EV Raises $35 Million In Funding

Investing in the new technology will enable Orange EV to scale its manufacturing to meet tremendous demand increases, expand to new markets, and improve its lead in class 8 commercial vehicle market.

FREMONT, CA: "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. 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 which will further improve our customer's operations while providing them significant savings." says Kurt Neutgens, Co-founder, President, and CTO of Orange EV. 

Orange EV, one of the country's leading EV manufacturers, closed a $35 million institutional funding round led by S2G Ventures and CCI, a Henry Crown and Company affiliate, to support and accelerate the company's growth. 

Orange EV began commercially deploying 100% electric Class 8 vehicles in 2015, the country's first manufacturer to do so. The company focuses on Class 8-yard trucks used in warehouses, distribution centers, manufacturing plants, rail intermodal, ports, and other facilities with mission-critical goods movement needs. Over 450 electric yard trucks operate in 130 fleets across 28 states and Canada, marking Orange EV's second decade as an EV innovator.

There is a growing demand for accelerating the transition to electric vehicles at scale due to the rising fuel cost and the commitment of more businesses to eliminate fossil fuels. An orange EV yard truck has proven to be the truck of choice immediately and permanently, reducing emissions by over 1,700 tons over a 15-year lifetime. Compared with their diesel predecessors, orange EV trucks save companies money, are safer, and are 10x more reliable.