Battle Motors, formerly Crane Carrier Company (CCC), has completed a Series B investment round with $150 million in new growth capital from a cornerstone global institutional investor. This capital raise follows a $120 million Series A investment round announced in December 2021.
Battle Motors has executed its expansion plans and promises to lead the electrification of the vocational fleet truck industry since acquiring CCC in 2021. Since then, the company has grown production throughput at its Ohio manufacturing facility from less than one truck per day to its current daily throughput of approximately six trucks per day through increased automation, expanded floorspace to 325,000 square-feet, and nearly tripling its workforce to 300 employees. Additionally, Battle Motors has bolstered its management team through several industry veteran hires, expanded its dealer network, and gained market share in North America.
Development and commercialization of a reliable severe-duty EV (Electric Vehicle) truck has been core to the Battle Motors strategy and the company is pleased to announce FMVSS certification for its EV truck line. Complementing the EV rollout, Battle Motors has developed its “Smart Cab” platform which boasts enhanced Advanced Driver-Assistance Systems (ADAS) and a proprietary connectivity software system, RevolutionOS, designed to deliver actionable data to drivers and fleet managers for enhanced safety, efficiency, and security. Battle Motors is now delivering its Class 8 severe-duty electric truck to refuse customers and serves over 750 municipal customers through 180 dealers in over 320 locations across the United States and Canada.
The proceeds from this capital raise will be used to expand production throughput to 16 trucks per day, fulfill existing order backlog, expand EV manufacturing capabilities, and general corporate purposes.