ev Transportation Services, an early-stage manufacturer of electric light-weight delivery vehicles, filed on Friday with the SEC to raise up to $20 million in an initial public offering.
The company has begun limited manufacturing of its first vehicle, the "FireFly", which is designed for essential services and on-demand “last mile” urban e-delivery markets. The vehicle was designed by a different company, with the intellectual property being purchased by ev Transportation Services in 2020. As of August 31, 2022, 73 FireFly vehicles have been delivered to a total of 24 different cities. The company is currently working on the design and development of a 2023 model.
The Brookline, MA-based company was founded in 2015 and plans to list on the Nasdaq under the symbol EVTS. ev Transportation Services filed confidentially on February 14, 2022. Maxim Group LLC is the sole bookrunner on the deal. No pricing terms were disclosed.
