Credit: Havo

EV startup Havo announces financing deal with Ethos Asset Management

Written by Cláudio Afonso | | LinkedIn | Twitter

EV startup Havo and Ethos Asset Management announced a long-term financing deal to allow the production of Havo’s delivery fleet vehicles in the United States.

The San Francisco-headquartered company will receive a “significant capital” for “several years” and enhanced the growth of the demand for commercial vans “from 480K to 1.1M per year driven by last-mile logistics”.

CEO of Ethos Asset Management Carlos Santos said, “We’re delighted to partner with Havo Inc., to provide financing for their unique solution to a major US problem. Havo’s EV platform has been designed from the ground up specifically for delivery fleet vehicles to maximize efficiency, safety and functionality bringing together charging, full fleet telematics, mobile servicing, nationwide service centers, purchasing and insurance into a single platform. All built for commercial customers’ needs”.

“We had no doubts about the opportunity presented to us by the dynamic and passionate CEO and Founder, Kendall Chow, who brings expertise in hardware, software, supply chain, manufacturing, and data. We look forward to a long term partnership and seeing Havo Vans roll out onto our US roads and highways”.

Mr Kendall Chow, CEO and Founder, Havo Inc. commented, “We’re thrilled to be working with Carlos Santos and the team at Ethos to bring Havo’s leading last-mile commercial EV’s to market. Ethos’ commitment and investment thesis in sustainability and transportation aligns well with Havo’s climate first goals”.

“The current demand for commercial EV’s far outpaces supply, and we look forward to a long-term partnership with Ethos as we address the US market’s rapidly growing need for reliable EV delivery fleets,” Chow added.

Written by Cláudio Afonso | | LinkedIn | Twitter