Electric vehicle (EV) startups face numerous challenges, with only a handful succeeding while the majority fail. However, Morris Commercial, a UK-based EV startup, appears to be one step closer to reality after a successful funding round. The latest investment should enable the all-electric Morris JE van to move from concept to production.
Morris Commercial first showcased the Morris JE van in 2019, which was a modern interpretation of the affordable Morris J-Type van from the 1950s. The latest funding will allow Morris Commercial to further research and development while establishing production facilities, hiring new talent, and enhancing supplier partnerships.
The Morris JE van is designed to have class-leading specs with a payload of 1,000 kg (2,204 lbs) and a range of around 250 miles (400 km), thanks to its lightweight, recycled, and recyclable carbon fiber and aluminum body. The van’s modular skateboard architecture also allows for different body styles and variants.
See also: Arrival Secures $300 Million Financing to Accelerate Electric Van Production
While the estimated price tag of ÂŁ60,000 ($73,000) may limit the van’s target market, Morris Commercial’s CEO, Dr. Qu Li, is optimistic about the van’s future. He expressed gratitude that new investors share the company’s vision and beliefs, confirming the strength of their business model and sustainability goals. The van is set for release in 2024, with production funded by Capital for Colleagues, co-investor Bill Ainscough, TJ Morris Limited, and additional investment from current shareholders.
Morris Commercial’s success in securing additional funding is a promising development for the EV startup, demonstrating the company’s potential for growth and innovation in the competitive EV market.
