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Tevva's response to termination of proposed merger agreement with ElectraMeccanica
Tevva strongly refutes the basis under which the planned merger was terminated, with no regard to the agreement termination protocol, and will be seeking recourse through due legal process. Tevva will shortly go public on its rebuttal of the ElectraMeccanica claims via the company's advisors.
The termination of the deal has galvanised the entire Tevva team and board and the company has immediately laid down plans to regroup from this event and emerge even stronger. To this end, Tevva has:
Tevva continues to attract interest from customers in its 7.5t battery-electric truck and the company has held a number of open days and customer demonstrations in recent weeks, including a successful acceptance test with TG Lynes ahead of vehicle handover in December. The Tevva battery-electric truck will be TG Lynes' first truck for use in central London and the company was highly complementary about the vehicle's performance. Tevva also has a number of trucks in build for handover to other customers.
Tevva is a hydrogen electric truck company with a spectrum of options for zero-emission medium to heavy-duty trucks. Our revolutionary hydrogen fuel-cell range extension technology allows our vehicles to do all the work of a diesel, with total peace of mind about cost, range, and environmental impact. Tevva is leading the electric charge to zero-emission freight and urban logistics. We have vehicles on the road already, getting the job done, and are focused on optimising green hydrogen solutions as part of our proposition.
www.tevva.com
View original content:https://www.prnewswire.co.uk/news-releases/tevvas-response-to-termination-of-proposed-merger-agreement-with-electrameccanica-301963842.html