Glasgow-based Munro EV has secured £2 million in new funding to increase production of its M-Series electric 4X4 vehicles. The investment round, led by existing backer Elbow Beach and other partners, will support the company’s efforts to meet rising demand from industries such as mining, defense, and construction that are transitioning toward lower-emission operations.
The funding will be used to expand Munro’s production facility in Glasgow, enabling the company to fulfill existing orders for 246 vehicles valued at more than £17 million. The scale-up is expected to create up to 300 new jobs over the coming years and help Munro move toward its long-term target of producing up to 5,000 vehicles annually.
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The M-Series 4X4 features a 1,000kg payload capacity and a range of more than 170 miles per charge, designed for use in demanding environments. Early customers include Gleneagles Hotel and Denbighshire Council.
According to Russel Peterson, Co-founder and CEO of Munro EV, the investment reflects the growing need for practical, zero-emission options in heavy industry. He said the M-Series aims to balance performance, durability, and sustainability to meet operational requirements in off-road and industrial settings. JP, Co-founder and CEO of Elbow Beach, said Munro represents an example of Scottish manufacturing contributing to the shift toward lower-carbon technologies.
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The investment will be directed toward increasing assembly capacity, hiring additional staff, and developing configurations for specific industry applications. Munro is also expanding its sales and service network across key sectors. Available in Utility, Truck, and Chassis variants, the M-Series has undergone extensive testing to meet reliability standards for industrial and off-road use, offering a simplified design intended to reduce total ownership costs.