Tevva

Tevva Motors Ltd designed and built 7.5-tonne battery-electric trucks, with a hydrogen range-extender version planned, from a factory at Tilbury in Essex. Founded in 2013 by Asher Bennett, it began production in 2023 and reported supply arrangements with Royal Mail and Travis Perkins. A proposed merger with US firm ElectraMeccanica, agreed in August 2023, was terminated two months later amid a dispute later settled out of court. With the board unable to secure new investment and losses running at roughly £1M a month, Tevva filed a notice of intention to appoint administrators in May 2024, and Lee Manning, Cameron Gunn and Ben Woodthorpe of ReSolve Advisory were appointed joint administrators on 6 June 2024. An exclusivity agreement with a prospective buyer failed to produce a sale, most staff were made redundant in August 2024, and the administrators moved to auction the company's vehicles, batteries and plant.

No going-concern sale was achieved: the administrators could not agree terms with the exclusive bidder, most employees were made redundant in August 2024, and assets at the Tilbury plant were put to auction. The administration has been extended twice (May 2025 and May 2026) and remained open at the July 2026 progress report.

A capital-intensive vehicle manufacturer with a single factory and a burn of about £1M a month had little margin once its planned merger collapsed. The failed ElectraMeccanica deal removed the funding route the business had been counting on, and no replacement investor appeared in time.