Here’s the announcement that can be found on the website.
Over the last few years, Roev has passionately pursued the electrification of transportation, primarily dedicating ourselves to finding viable paths to scale electric conversions of the Toyota HiLux. We believe in the potential of conversion models and see re-use as an exciting long-term solution.
However, despite our best efforts, we were unable to secure the necessary capital to continue developing our conversion program with the safety, reliability, and scale that we know our valued customers deserve. As a result, we are discontinuing our vehicle manufacturing efforts and shifting our focus exclusively to software.
We are excited about our new direction and have received positive early feedback on our EV transition software solution. This AI-powered tool is designed for organisations aiming to reduce transport emissions and cut costs. It analyses existing vehicle fleets, identifies opportunities for CO2 reduction and electrification, and provides insights into infrastructure requirements and energy management.
We want to express our deepest gratitude for the unwavering support and the time invested in us from our partners, customers, and other important stakeholders. Although we could not achieve our goal of a scaled EV Hilux conversion, we are proud that we gave it a ‘red hot go.’ Taking action, rather than just talking, we invested significant time and resources into an idea we believed could meaningfully impact carbon emission reduction.
While it’s disappointing to announce the end of our vehicle manufacturing program, there are a number of positives we can reflect on:
- Proven Demand: We demonstrated strong demand for a 4×4 EV Ute, with several hundred signed orders and a prospect list indicating tens of thousands of vehicles in the coming years.
- Advocacy for Re-use: We highlighted the benefits of re-use and upcycling to tackle climate change, specifically through electric conversions of existing vehicles. This advocacy extended beyond heavy industry to a wider audience.
- Valuable Learnings: We gained significant insights into the barriers to vehicle electrification, especially in the fleet market, which have informed our new direction in software solutions. This knowledge positions us uniquely to develop solutions that can accelerate the uptake of electric vehicles worldwide.
Thank you again for your support. We look forward to continuing our journey with you, focusing on creating impactful software solutions for a sustainable future.
Our deepest thanks,
Noah, Robert, and Paul
