August 11, 2022

Grant funding has been a major supply of revenue for transportation startup WattEV, which not too long ago secured $4.7 million in grants that will probably be allotted towards the acquisition of professional quality electrical vans and growth of a charging depot.
The El Segundo startup plans to supply heavy-duty electrical vans to shippers and carriers at a per-mile fee. The service consists of use of the corporate’s 4 charging depots, that are situated in Southern California.

The current grants come as the corporate is increasing its fleet and constructing out its charging depots.
One grant price $3 million was acquired from the Southern California Affiliation of Governments (SCAG). The planning group has a “Final-Mile Freight Program” that gives funding to corporations corresponding to WattEV.

“The Final-Would possibly Freight Program helps Southern California concentrate on emission reductions and enhance air high quality whereas strengthening our provide chains in Southern California to ship items to the nation,” Jan Harnik, the mayor of Palm Desert and president of SCAG, stated in a press release.

WattEV will use the $3 million SCAG grant for the acquisition of 20 of its preliminary fleet of fifty Volvo VNR Electrical Class 8 heavy-duty vans. WattEV Chief Govt Salim Youssefzadeh instructed the Enterprise Journal in a earlier story that the vans price about $500,000 every, not together with taxes and costs.

Electrical vans are wherever from two to 3 occasions dearer than conventional diesel vans, making grant funds a vital supply of monetary help for WattEV, which has an inner staff that applies for and administers grants.

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“Given the fee disparity between combustion-engine transport and its present infrastructure, it’s important for us to depend on automobile grants to run a worthwhile enterprise, particularly with the excessive price of electrical vans,” Youssefzadeh wrote in an e-mail to the Enterprise Journal. “With out the grants we won’t be able to supply our companies at close to price parity with combustion engines.”