Hived secures $42 million funding to expand electric delivery trucks
- Hived has secured funding of $42 million from investors based in Japan.
- The company's focus is on expanding its electric delivery truck operations across England.
- This move demonstrates the growing shift towards sustainable logistics solutions in the industry.
Hived, an ecommerce transport group co-founded by a former Manchester City women’s footballer, has recently completed a significant funding round, securing $42 million from Japan-backed investors. This financial boost is aimed at facilitating the expansion of the company's electric delivery truck operations across England. The investment reflects a growing trend in the logistics industry, where businesses are increasingly focusing on sustainability and adopting eco-friendly technologies to meet consumer demands and regulatory pressures. The raised capital will allow Hived to enhance its fleet and operational capabilities, thereby positioning itself competitively in a rapidly evolving market. Moreover, this investment aligns with the broader push towards electrification in the transportation sector, spurred by both environmental considerations and advancements in technology, ultimately seeking to reduce carbon emissions and promote sustainable business practices. As Hived broadens its reach, it will not only contribute to the greening of logistics but also potentially create new job opportunities within the sector, signaling a positive development for the economy as a whole.