The world of EV startups is a difficult one to navigate. For every success story, there are seemingly a dozen failures. However, for one UK-based company, the journey from the ether into reality appears to be one step closer following a successful round of funding.
The company in question is Morris Commercial, which first displayed its all-electric Morris JE van all the way back in 2019. The quirky commercial creation was a reimagination of the original Morris J-Type, an affordable van that would ply the streets of Britain throughout the ’50s.
The latest round of funding should see that the electric van makes the jump into production. The JE is described as being close to production readiness, with a prototype shown in 2022. The additional funding means that production facilities have been established and will allow Morris Commercial to engage in further R&D while the company expects to hire additional talent and strengthen partnerships with suppliers.
Related: The Deliciously Retro Morris JE Electric Van Makes Its Public Debut
The van’s previously-estimated price tag of approximately £60,000 ($73,000 at current exchange rates) will ensure it remains pretty niche. However, while the Morris JE’s target market may be limited, the van has been designed to have class-leading specs.
The van’s body features recycled and recyclable carbon fiber and aluminum, with a payload of 1,000 kg (2,204 lbs). The use of lightweight materials means that the JE van should have a range of around 250 miles (400 km), although drivetrain specifics are yet to be revealed. The JE is also based on a modular skateboard architecture, which also opens up the possibility of different body styles and variants.
Now set for a 2024 release date, the new investment of an undisclosed amount was led by Capital for Colleagues (C4C), in addition to “substantial” funding by C4C co-investor Bill Ainscough and TJ Morris Limited. It was also noted that Morris Commercial’s current shareholders have also made sizable further investments.
Dr. Qu Li, the CEO of Morris Commercial, said: “We are truly grateful that new investors share our vision and beliefs, and their confidence in Morris confirms the strength of our business model and our sustainability goals. I am very excited about the future for Morris Commercial and look forward to delivering our iconic van to our many thousands of pre-registered customers around the globe with the support of our new investment partners.”
