Evolectric provides CircularEV™ Conversion Kits that retrofit existing commercial vehicles to fully electric, reducing upfront costs by up to 45% compared to new electric vehicles. This solution extends vehicle life by at least 10 years while delivering fuel savings of up to 70% and maintenance cost reductions of at least 50%.
Funding
$15M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
The high upfront costs of new electric vehicles (EVs) can be a significant barrier to fleet electrification, particularly for businesses with existing commercial vehicle fleets. Replacing entire fleets with new EVs can be financially prohibitive, delaying or preventing the transition to electric mobility.
Solution
Evolectric offers CircularEV™ Conversion Kits that enable businesses to retrofit their existing commercial vehicles to fully electric powertrains, significantly reducing the upfront costs compared to purchasing new EVs. This approach extends the operational life of existing vehicles by at least 10 years while providing substantial fuel savings and reduced maintenance expenses. The conversion kits are designed to be compatible with a wide range of existing fleet vehicles, offering a cost-effective and dependable solution for accelerating fleet electrification and meeting environmental regulations. Evolectric also provides a comprehensive ecosystem that includes installation and maintenance services, fleet intelligence software, charging solutions, and financing and insurance options.
Target Audience
The primary target audience includes corporations, small businesses, and logistics/leasing providers looking to electrify their commercial vehicle fleets in a cost-effective and sustainable manner.
Features
- CircularEV™ Conversion Kits compatible with existing commercial vehicle fleets
- Up to 45% lower upfront cost compared to new EVs
- Fuel cost savings of up to 70%
- Maintenance cost savings of at least 50%
- Extends vehicle life by at least 10 years
- Integrated smart technology, including advanced telematics and real-time diagnostics
- Access to a certified installation and service network
- Charging solutions and financing/insurance packages available through partners