Big electric trucks are having a hard time. The Cybertruck is a bust , Stellantis just canceled the Ram 1500 EV , and even sales of Ford’s promising F-150 Lightning have been on the decline.

But the United States loves trucks. So is the key to making them love electric trucks… a very small one?

That’s the bet that California-based startup Telo has been making since its inception in 2022. The company has designed a bite-sized truck called the MT1 with an admittedly not-so-small starting price of around $41,000.

Now, investors want in on that same bet: Telo announced Tuesday it has closed a $20 million Series A funding round. The round was co-led by designer Yves Béhar and Tesla co-founder Marc Tarpenning (who are also Telo co-founders), with additional investment from Salesforce CE

See Full Page