Motiv Power Systems Nets Growth Capital

Motiv Power Systems, the developer of commercial electric vehicle technology and the proprietary electric Powertrain Control System (ePCS), says it has raised $7.3 million in capital from investors led by Colorado's Magness Investment Group.

Kings Canyon Unified School District in California recently took delivery of its second Motiv-equipped all-electric school bus, which is in use on routes in pilot testing.

‘We are impressed with how Motiv's approach leverages the existing truck and bus builder ecosystem to achieve scalability,’ says Gary Magness, manager of the Magness Investment Group. ‘I'm pleased to be a part of this revolution in trucking that brings environmental sustainability and significant fuel savings to an industry that's the backbone of our economy.’

The Motiv ePCS is a single product suite that can electrify any truck or bus chassis with a variety of commercially-available battery packs and motors, the company says. The ePCS, battery packs and motor are installed to replace the engine and transmission of a new, incomplete chassis via a ship-through modification. Existing truck and bus builders that already use these incomplete chassis can, in turn, build and sell electric versions of their existing models.

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