Motiv Power Systems raises $8.1M

What does Motiv Power Systems do?

Motiv Power Systems, is a startup which designs, manufactures and distributes electric power train components for medium and heavy duty vehicles. It offers electric powertrain control systems for the bus and commercial truck industries. The company also offers powertrain kits which comprises of motors, batteries, chargers, ePCS, ancillaries for specific drive cycle needs, and consulting services.  Motiv Power Systems products are shipped to conventional truck chassis builders.

How much Motiv Power Systems was funded?

It has raised $8.1M in Private Equity round on May 28, 2015 from California Energy Commission.

Previous funding

$252k in Venture round on July 15, 2010

$7.3M in Private Equity on June 30, 2014 from Magness Investment Group

What is next for Motiv Power Systems?

Motiv Power Systems will use the funding raised in the latest round to continue commercialization of its award winning All Electric Powertrain, including a new manufacturing facility in Hayward, California. To meet the growing demands for buses and electric trucks across US, this facility will produce the entire suite of products which are included in its All Electric Powertrain. At total capacity, this will employ 20 workers and produce 480 all electric powertrains annually.

This manufacturing facility is a good example of effective public policy and investments which can help the state meet its goals for clean air, petroleum and climate reduction goals. This all electric powertrain upfit package currently is applicable for the bus and truck chasis- Ford E450, Ford F59 and Crane Carrier cabover class 8 chassis. It contains components necessary for transforming th chassis from fossil fuel to zero emission all electric drive such as motor, batteries, universal charging compatibility and power for hydraulics, air and heating conditioning units.

More about Motiv Power Systems

It was founded in 2009 by Vishal Parikh and Jim Castelaz and has its headquarters in Foster City, CA.