Posted by Richard Willett - Memes and headline comments by David Icke Posted on 15 May 2024

‘Elon Musk of Essex’ prepares to call in administrators: Electric truck start up Tevva Motors which was founded by the brother of Israel’s ex-PM Naftali Bennett seeks emergency rescue deal

An electric lorry start-up launched by an entrepreneur dubbed ‘the Elon Musk of Essex’ is on the brink of administration as it urgently seeks new investment.

Asher Bennett – the older brother of former Israeli prime minister Naftali Bennett and a former submarine officer in the Royal Navy – founded Tevva Motors in 2013.

It planned to build 7.5-tonne electric trucks in Tilbury, Essex and had signed agreements in principle to supply them to Royal Mail and Travis Perkins.

But the company has now filed a notice to appoint administrators after failing to secure sufficient new funds to keep the company afloat, the Telegraph reports.

It means bosses have temporary legal protection from creditors while they make a final effort to find emergency investment.

Tevva planned to revolutionise the haulage market by building trucks fitted with hydrogen fuel cell technology.

But it has been hit by a string of financial difficulties, disputes with suppliers and an increasingly challenging backdrop across the wider electric vehicle sector.

A spokesman said: ‘Despite positive customer interest in Tevva and its products, current global economic conditions have created a challenging environment for electric vehicle startups.

‘As a consequence, we have filed notice of intent to enter administration with the court while the board is pursuing investment that secures the future of the company.’

Tevva was due to be bought out last year by American firm ElectraMeccanica but this collapsed.

Asher Bennett previously said his inspiration for the company stemmed from his days in the Israeli Navy, where he came across submarines partially powered by electricity.

After leaving the armed forces, he worked for a number of IT companies before becoming CEO of Evida Power, which designed lithium-ion batteries.

Read More: ‘Elon Musk of Essex’ prepares to call in administrators

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