AVM's US-designed all-electric bus is cost-competitive with traditional combustion-powered vehicles.
AVM has debuted its first US EV bus and 350 kW CCS high-powered charger. The fast chargin all-electric vehicles are the first to US market as a 100% electric alternative to traditional combustion powered buses. The company is first to demonstrate a price competitive bus with a fast charging solution that can charge in approximately the same time it takes to fill up a gas tank.
AVM’s all-electric, low-floor bus, the EV27, has completed testing and will be demonstrated with customers and prospects beginning in February. This mid-size zero-emission bus offers as much as 50% reduction in an operator’s overall total cost of ownership due to low capital cost, maintenance and operating cost savings, while reducing emissions where “green” solutions are needed the most – in highly populated urban areas where pollution and noise are of large concern. The company seeks to implement its products as a cost effective and practical solution to replacing combustion-powered vehicles.
AVM’s family of US buses are available in sizes from 21 to 35 feet and are the only purpose-built all-electric low-floor vehicles in their class. AVM’s proprietary battery technology and fast charging solution fully charges the EV27 in under 10 minutes – maximizing the total time in service that is critical for commercial vehicle operators. AVM is offering a full range of options as every vehicle is connected to AVM’s cloud-based artificial intelligence system.
The company uses proprietary Lithium Titanate battery technology provided by Yinlong Energy, with exclusive rights established under a joint venture agreement to use the technology in North America.
“Our EV27 is the only vehicle its class built as all-electric from the ground up. AVM is developing a full range of additional commercial EVs, including trucks, delivery vans, as well as school buses and motor coaches, in a variety of lengths and capacities, that we will be rolling out to market in 2018 as production of our buses ramps up,” said Larry Brennan, co-founder and President of AVM.
Funding Round Closed
The company has closed a major funding round led by Havenrock. “The capital injected will enable us to aggressively expand sales and marketing efforts, as well as broaden and accelerate future product development,” said Brennan.
Omar N. Barakat CEO of Havenrock stated “after performing an extensive review of the design, build quality, and battery technology of AVM; we concluded that AVM has a superior product to the electric vehicle market.”
Bradley Foreman, President and CEO of Skyhawk ADS who co-invested, commented “the ability to offer customers a high-quality state of the art all-electric vehicle that is price competitive to gas vehicles and that can be fully re-charged in under 10 minutes will completely change the transportation landscape.”
The company gains two board members, Foreman and Barakat.
With offices in Beverly Hills, California and Paris, France; Havenrock manages assets across several sectors and geographies through its investments in private companies. AVM will be added to its growing portfolio.
Wamar International is an industrial partner of Havenrock, a leading global provider of premium services and products in Aviation, Energy, Defense & Security. With facilities in both the US and globally; the partnership enables AVM to gain an international support reach to serve its customers.
First Orders Received
The company has received initial orders for over 200 vehicles from both US and international vendors to replace existing combustion powered buses and plan for first delivery in the second quarter of 2018.
AVM (www.avmfg.com) designs, manufactures and supports transformational all-electric smart transportation technologies for US and international customers. AVM is a portfolio company of the Los Angeles CleanTech Incubator (www.laci.org).
Demos are available at LA CleanTech Incubator.
Vice President, Business Development
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