Munro EV, the Glasgow-based electric 4X4 manufacturer, today announces it has secured £2 million in fresh funding from existing investor Elbow Beach alongside other parties. The investment will accelerate production of Munro’s M-Series vehicles, specifically designed for the demanding requirements of mining, defence and construction industries.
The funding comes as global industries face increasing pressure to decarbonise operations, with mining alone responsible for 4-7% of all global emissions*. While passenger vehicle electrification has advanced rapidly, commercial all-terrain vehicles have remained largely diesel-dependent despite their intensive usage patterns and substantial carbon footprint.
Munro’s M-Series offers an all-new vehicle to this underserved market, delivering the rugged performance these critical industries require while eliminating operational emissions. The vehicles demonstrate exceptional capability with a 1,000kg payload capacity and over 170 real world miles of range per charge, making them ideal for the demanding operational environments of mining sites, military applications, and construction projects.
The £2 million investment will enable Munro to significantly scale its Glasgow production facility to service the current customers orders worth £17m, which is expected to create up to 300 new manufacturing jobs. The company is targeting production capacity of up to 5,000 vehicles annually in the next six years, with initial deliveries of the M-Series to Gleneagles Hotel and Denbighshire Council having taken place this year.
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