Battle Motors, formerly Crane Carrier Co. (CCC), has completed a Series B investment round with $150 million in new growth capital from a global institutional investor. This capital raise follows a $120 million Series A investment round announced in December 2021.
The proceeds will be used to expand production throughput to 16 trucks per day, fulfill existing order backlog, expand EV manufacturing capabilities and general corporate purposes.
“We have validated our strategic growth initiatives and the attractive sector fundamentals while identifying additional market opportunity,” said Michael Patterson, CEO of Battle Motors.
Battle Motors has executed its expansion plans and promises to lead the electrification of the vocational fleet truck industry since acquiring CCC in 2021. Since then, the company has grown production throughput at its Ohio manufacturing facility from less than one truck per day to its current daily throughput of approximately six trucks per day through increased automation, expanded floorspace (to 325,000 square feet) and nearly tripling its workforce to 300 employees.
Development and commercialization of a reliable severe-duty electric vehicle (EV) truck has been core to the Battle Motors strategy and the company is pleased to announce FMVSS certification for its EV truck line. Complementing the EV rollout, Battle Motors has developed its innovative “Smart Cab” platform which boasts enhanced Advanced Driver-Assistance Systems (ADAS) and a proprietary connectivity software system, RevolutionOS, designed to deliver actionable data to drivers and fleet managers for enhanced safety, efficiency, and security. Battle Motors is now delivering its Class 8 severe-duty electric truck to refuse customers and serves over 750 municipal customers through 180 dealers in over 320 locations across the United States and Canada.
“Challenging ourselves to learn from adversity and to be better every single day has built the exceptional team necessary to reach all our goals. Now we have the manufacturing facility to match,” mentions COO Cody Boggs.
“Receiving FMVSS certifications and moving into production on our first EV model validates our team’s perseverance in creating revolutionary innovations and expanding our EV capabilities allows us to create even more disruptive technologies to deliver to the market,” states CTO Kelleigh Ash.