Tevva’s response to termination of proposed merger agreement with ElectraMeccanica

Tevva’s response to termination of proposed merger agreement with ElectraMeccanica

London, 23 October 2023: Earlier this month (4 October 2023), Tevva Motors Limited (Tevva) was informed by ElectraMeccanica Vehicles Corp. (ElectraMeccanica) that it no longer intended to continue with the merger agreement, citing incurable breaches. The Tevva team was deeply disappointed by this abrupt decision and had no opportunity to respond to ElectraMeccanica’s claims before […]

By Breyten Odendaal23 October 20234 min read

London, 23 October 2023: Earlier this month (4 October 2023), Tevva Motors Limited (Tevva) was informed by ElectraMeccanica Vehicles Corp. (ElectraMeccanica) that it no longer intended to continue with the merger agreement, citing incurable breaches.

The Tevva team was deeply disappointed by this abrupt decision and had no opportunity to respond to ElectraMeccanica’s claims before they went public. Tevva gave full and open access at every point in the process to ElectraMeccanica’s advisors and management, with full financial due diligence prior to signing the definitive agreement and senior members of the ElectraMeccanica executive team in residence for many weeks at Tevva’s UK facility.

Tevva strongly refutes the basis under which the planned merger was terminated, with no regard to the agreement termination protocol, and will be seeking recourse through due legal process. Tevva will shortly go public on its rebuttal of the ElectraMeccanica claims via the company’s advisors.

Tevvas response to termination of proposed merger agreement with electrameccanica


The termination of the deal has galvanised the entire Tevva team and board and the company has immediately laid down plans to regroup from this event and emerge even stronger. To this end, Tevva has:

  • Restructured the leadership team with David Roberts taking the role of CEO and Ken Scott becoming Managing Director, under the Chairmanship of Ian Harnett
  • Re-engaged with a number of investors and public companies looking for a merger with Tevva; the company is confident that from these various opportunities it will secure both medium and long term financing to complete its business plan of commercialisation and ramp up sales.

Tevva continues to attract interest from customers in its 7.5t battery-electric truck and the company has held a number of open days and customer demonstrations in recent weeks, including a successful acceptance test with TG Lynes ahead of vehicle handover in December. The Tevva battery-electric truck will be TG Lynes’ first truck for use in central London and the company was highly complementary about the vehicle’s performance. Tevva also has a number of trucks in build for handover to other customers.

Comments

Sign in to comment.Sign in

No comments yet. Be the first to share your thoughts.

Battery-electric Tevva truck set to drive skills at MIRA Technology Institute (MTI)
15
0
ArticleNovember 7, 2023

Battery-electric Tevva truck set to drive skills at MIRA Technology Institute (MTI)

Students and apprentices at the MIRA Technology Institute (MTI) have welcomed the delivery of a brand-new electric truck to help them get to grips with the latest electric vehicle technology. The 7.5 tonne Tevva battery electric truck is based at the MTI’s state-of-the-art workshops and will be instantly accessible for every student enabling them to […]

Tevva thought leadership: We need to be bolder on zero emission truck adoption
11
0
ArticleSeptember 19, 2023

Tevva thought leadership: We need to be bolder on zero emission truck adoption

Trucks equipped with batteries or powered by hydrogen fuel cells must constitute the overwhelming majority of new truck sales by 2040, in line with regulatory initiatives aimed at curbing CO2 emissions from medium- and heavy-duty vehicles. However, even these ambitions don’t go far enough. The imperative of transitioning to zero-emission road freight cannot be overstated, […]

Tevva develops a four times more efficient regen braking system with ZF
89,607
9,963
ArticleJune 13, 2023

Tevva develops a four times more efficient regen braking system with ZF

London, 13 June 2023: British electric vehicle manufacturer Tevva has successfully completed development of the regenerative braking system on its 7.5t battery-electric truck. Part of this involved working with global Tier 1 supplier ZF to integrate its Electronic Brake System (EBS) for use in zero-emission Tevva electric trucks. ZF’s Commercial Vehicle Solutions (CVS) is the […]

The UK needs hydrogen to achieve its net zero goals
10
0
ArticleApril 19, 2023

The UK needs hydrogen to achieve its net zero goals

The UK Hydrogen Strategy estimates that to meet Net Zero aims by 2050, hydrogen will make up 20-35% of the UK’s final energy demand (250-460 TWh a year). Hydrogen therefore has a critical role to play in the decarbonisation of industry, power, heat and transport. Yet in her recent report, the UK Hydrogen Champion found […]

Tevva 7.5t electric truck
8
0
ArticleMarch 9, 2023

Tevva 7.5t electric truck

Tilbury, 9 March 2023: British electric vehicle manufacturer Tevva has secured government plug-in truck grant (PITrG) eligibility for its 7.5t battery-electric truck. UK organisations looking to decarbonise operations and future-proof their fleets will benefit from a potential £16,000 discount, removed from the purchase price by Tevva. To be eligible for the grant, N2 vehicles (trucks […]

Tevva partners with Ecobat for first-life battery management
11
2,965
ArticleFebruary 28, 2023

Tevva partners with Ecobat for first-life battery management

London, 28 February 2023: British electric vehicle manufacturer Tevva has entered into a strategic partnership with Ecobat, the global leader in battery recycling, for the repair, repurposing and recycling of its lithium-ion batteries. The partnership kicks off with a 12-month pilot phase for first-life battery management, with the opportunity to expand into additional energy storage […]

Tevva hydrogen-electric truck clocks up 350 miles in wintry range test
6
0
ArticleFebruary 15, 2023

Tevva hydrogen-electric truck clocks up 350 miles in wintry range test

London, UK, 15th February 2023: While Tevva’s laser-guided focus remains trained on building and delivering its battery-electric 7.5t vehicle, testing and development of its hydrogen-electric counterpart continues apace. Four Tevva engineers: Charlie Cordell, Byron Dolman, Ryan Clark and Toby Hurst were doing exactly that recently, with a ‘range test’ of Tevva’s dual-energy prototype truck. The […]

Best SUVs in South Africa Under R750,000
505
4
ArticleJuly 6, 2026

Best SUVs in South Africa Under R750,000

A practical South African buyer’s guide to the best SUVs under R750,000, including real OEM pricing, buyer fit, trade-offs, and the models that deserve a place on your shortlist.
Toyota Vitz South Africa Buyer’s Guide: What You Actually Get
650
6
ArticleJune 30, 2026

Toyota Vitz South Africa Buyer’s Guide: What You Actually Get

A practical CarSite.co.za guide to the Toyota Vitz in South Africa, including its 1.0-litre engine, fuel economy, safety features, boot space, pricing, and which version makes the most sense.
New Jeep Gladiator in South Africa: Price, Features and Why This 4x4 Bakkie Still Has a Niche
515
2
ArticleJune 29, 2026

New Jeep Gladiator in South Africa: Price, Features and Why This 4x4 Bakkie Still Has a Niche

A practical look at the new Jeep Gladiator in South Africa, including official price context, key features, 4x4 appeal, and who this bakkie makes sense for.
What Makes the Jeep Wrangler So Special?
429
0
ArticleJune 26, 2026

What Makes the Jeep Wrangler So Special?

A warm, enthusiast-driven look at why the Jeep Wrangler still inspires deep loyalty, from its heritage and open-air character to its off-road honesty, culture, and customisation appeal.
GWM Haval H7 Black Edition sharpens SUV attitude
400
0
ArticleJune 25, 2026

GWM Haval H7 Black Edition sharpens SUV attitude

GWM introduces the Haval H7 Black Edition in South Africa, adding bold styling, hybrid power and strong value to its mid-size SUV line-up.