AMP Holding Inc., the parent company of AMP Electric Vehicles Inc., has secured a commitment of $7.5 million from Kodiak Capital Group LLC in order to expand the company's expected EV production and presence in the commercial fleet market.
‘We are especially interested in AMP's EV heavy truck fleet vehicle development and production in the fleet vehicle industry,’ says Colin Manners, director of Kodiak Capital. ‘The potential for this patent-pending technology is very exciting, and we at Kodiak see the advantages of making this sizable commitment.’
AMP is partnering with Navistar International Corp. to design and develop a heavy-duty vehicle (maximum GVW of 19,500 lbs.) that will run 100 miles on a single charge. The companies announced a successful proof-of-concept on this platform this week.