AU$1b deal to electrify 8500 Toyotas for mining

Friday 3 Feb 2023

SEA Electric has signed a Memorandum of Understanding (MoU) with systems integrator MEVCO, which specialises in battery electric light commercial vehicles, to provide electric Toyota Hilux and Land Cruiser models for the mining industry. Under the deal valued at nearly AU$1 billion, MEVCO will commit to order 8500 units during the next five years.

More than half of the 2023 allocation of the Australian-developed BEVs have been pre-sold, with demonstration models available in Melbourne, Brisbane and Perth. SEA Electric’s proprietary SEA-Drive power-system is included, with zero local emissions of carbon dioxide, methane, or nitrous oxide.

Thanks to its medium‐voltage architecture and electronic thermal management, SEA Electric’s solution is light, cost‐effective, and efficient, with the system tested in the field across eight countries with over 2.5 million kilometres of real-world use registered to date, SEA Electric explains.

Available in various mining-specific designs for 4×4 and 4×2 configurations, the vehicles can be specified with two SEA-Drive options – an 88kWh battery providing 380km range, or a 60kWh battery for 260km of use. Fast DC to DC charging is available for the system, which provides up to 80% battery power in less than an hour, with a five-year factory warranty on the batteries supplied.

MEVCO is a portfolio company of RCF Jolimont – the innovation fund of Resource Capital Funds, one of the largest private equity managers in the world focused on mining. “This is a pivotal partnership for the mining industry,” says MEVCO chief executive Matt Cahir.

“It enables the world’s leading EV technology for heavy and light commercial trucks to be commercialised on a scale that makes sense for the bespoke needs of the mining sector. SEA Electric’s unique architecture is perfectly suited for the task, with the system’s high-torque characteristics ideally fit for purpose.”

For SEA Electric, it’s the logical next step in the company’s expansion in the commercial vehicle space, opening up possibilities for the technology on a global scale for a wide variety of applications. “This deal is a significant step forward in Australia and shows just what is possible when it comes to electrifying the world’s fleets.”

Source: Transport Talk, SEA Electric

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