Telo Trucks, a California-based startup, is aiming to disrupt the traditional market dominated by giants like Ford and Chevy with its compact electric pickup truck, the MT1. Recently, the company announced that it has secured a $20 million Series A funding round, led by Yves Behar and Marc Tarpenning, a Tesla co-founder. This funding will enable Telo to move closer to production and meet all federal requirements to bring the MT1 to market.
The MT1 is a unique offering in the electric pickup truck segment, as it is designed for urban dwellers and weekend adventurers who require some pickup capability in a compact package. Measuring just 152 inches in length, similar to a two-door Mini Cooper, the MT1 still offers seating for five and a five-foot bed. It features innovative design elements such as a cargo tunnel behind the rear seats and a folding midgate for convenient storage of items like surfboards.
Telo plans to commence production of the MT1 in late 2025 with a price tag of $41,520, making it a more affordable option compared to other electric trucks currently available in the market. Despite its compact size, the MT1 has garnered significant interest, with over 12,000 preorders already in place.
However, the road ahead for Telo is not without challenges, as the EV startup landscape is highly competitive and fraught with risks. The recent expiration of EV tax credits further complicates the scenario, as seen in the bankruptcies of several EV companies in recent years. Telo’s ability to bring its vision to fruition on a limited budget remains to be seen, but the company’s innovative product and strong preorder numbers indicate a promising future.
In conclusion, Telo Trucks is on a mission to revolutionize the electric pickup truck market with its compact and versatile MT1 model. With the necessary funding in place and a clear production timeline, Telo is poised to make its mark in the EV industry. Keep an eye on Telo Trucks as they navigate the challenges of bringing their unique electric pickup truck to market.
For more information, please contact the author at Tim.Levin@InsideEVs.com.