SCOTLAND'S first car manufacturer in 54 years has secured a £2 million funding boost to accelerate production of vehicles for mining, defence and construction industries.
Munro EV, a Glasgow-based electric 4X4 manufacturer founded in 2019, has secured £2m in funding from existing investor Elbow Beach alongside other parties.
The investment will accelerate production of Munro's M-Series vehicles in Glasgow, which is expected to create up to 300 new manufacturing jobs. The company is targeting production capacity of up to 5000 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.
The company states that as passenger vehicle electrification has advanced rapidly, commercial all-terrain vehicles have remained largely diesel-dependent despite their intensive usage patterns and substantial carbon footprint.
The Munro M-Series offers a all-electric 4x4, for commercial and private customers. The vehicles demonstrate a 1000kg payload capacity and over 170 miles of range per charge, designed for the demanding operational environments of mining sites, military applications, and construction projects.
"This investment validates the critical need for zero-emission solutions in heavy industry," said Russel Peterson, co-founder and CEO of Munro EV.
"Mining companies, defence interests and construction firms are actively seeking alternatives to diesel-powered vehicles, both to meet sustainability targets and reduce operational costs. The M-Series delivers on both fronts without compromising the performance these industries demand.
He continued: “We provide a unique combination of capability, durability and sustainability which solves decarbonisation and vehicle role issues for a number of sectors. The UK Ministry of Defence plans to procure replacements for the Land Rover and Pinzgauer vehicles in its fleet under the Land Mobility Strategy and the Munro M-Series can meet those requirements while being more capable, quieter and cleaner. This is not a lifestyle vehicle that operators have to add robustness to with aftermarket parts or upgrade kits, this is a vehicle built from the ground up to be an off-road electric vehicle that will be operated in harsh environments.”
The funding will be deployed across several areas:
- Expanding production line capacity at the Glasgow facility
- Recruiting additional assembly and engineering staff
- Developing industry-specific vehicle configurations
- Growing the sales and service network across target sectors
