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British electric truck manufacturer Tevva has resumed discussions with several potential merger partners after the cancellation of their planned deal with ElectraMeccanica earlier this month. Tevva also announced that it currently has a number of trucks in production.

The initial merger agreement between Tevva and ElectraMeccanica, which was revealed in August, was anticipated to grant Tevva access to U.S. production capabilities and had set a revenue target of up to $1.5 billion by 2028. However, ElectraMeccanica, headquartered in Mesa, Arizona, ended the agreement, citing Tevva’s alleged failure to disclose “material information.”

Tevva, having garnered approximately $140 million from investors, asserted that it had provided ElectraMeccanica with “full and open access” and intends to pursue legal remedies to address the situation.

Tevva has since restarted discussions with various investors and publicly traded companies interested in a potential merger. The company expressed confidence that these opportunities would secure both medium- and long-term financing, facilitating the fulfillment of its business plan.

Furthermore, Tevva disclosed that it currently has several fully electric 7.5-tonne trucks in production, ready for delivery to customers.

In recent years, many electric vehicle startups have faced challenges due to rising inflation and interest rates, which have constrained their access to funding. Some, such as the Swedish-based electric truck manufacturer Volta Trucks, have even initiated bankruptcy proceedings.