ELM Mobility, an innovative, UK-based, last-mile ecosystem business, has announced new investment – £10 million from the government.
It follows the recent successful completion of seed funding, led by Barclays Climate Ventures, which gives the ELM team the budget to take crucial steps towards commercialisation. That will see the launch of a cargo-carrying battery electric vehicle (BEV) that reduces logistics costs, emissions, and urban congestion for last-mile delivery businesses, plus an integrated range of digital tools, services and support.
The £10 million is part of the UK government’s £4 billion DRIVE35 programme, delivered by the Department for Business and Trade in partnership with the Advanced Propulsion Centre UK (APC) and Innovate UK. The remainder of the funding is from ELM and its six partners to further develop the project and key supporting technologies.
ELM Mobility – it stands for Efficient Last Mile – began life in 2023 as a collaborative study between Prodrive Advanced Technology, a division of world-renowned motorsport and engineering business Prodrive, and Astheimer Design, a globally-respected design studio creating sustainable mobility solutions.
Today it’s a stand-alone business with clear goals, and the partners are all highly respected UK businesses: Electrified Motors is providing cutting-edge motor technology; Nyobolt brings a fast-charging, air-cooled battery with long cycle life; and low-emission research consultancy CENEX offers a wealth of customer modelling experience and capability. The final piece of the jigsaw is Toyota Motor Manufacturing (UK) Ltd, ensuring the production vehicle will have world-class manufacturing input.
Mark Stringer, CEO at ELM Mobility, commented: “Our ambition is to create the best-in-class urban last-mile delivery vehicle. Supported by the APC, this collaboration brings together leading UK capability across design, engineering, and the BEV supply chain, informed throughout by the practical realities of manufacturing and customer use. This depth and balance of expertise will optimise the ELM vehicle for production and, I believe, will deliver a genuinely game-changing solution for last-mile logistics.”
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