SEA to electrify 8500 Toyota vehicles for mining industry
SEA Electric has signed a Memorandum of Understanding with European company MEVCO to supply 8500 HiLux and LandCruiser vehicles worth up to $1 billionThe partnership will see specialist Toyota HiLux and LandCruiser models converted to electric drive and made available for the mining industry, with MEVCO making a commitment to order 8500 units over the next five years.
The deal has a total value of close to $1 billion. SEA has said it will be doubling its manufacturing facility in Dandenong, Victoria to make way for the influx of Toyotas.
SEA said that at the time of the launch, over half of the 2023 allocation of the Australian-developed battery-electric vehicles have been pre-sold.
At the heart of the arrangement is SEA Electric’s proprietary SEA-Drive power system, which will power the vehicles with zero local emissions of carbon dioxide, methane, or nitrous oxide.
Available in various mining-specific designs for 4x4 and 4x2 configurations, the vehicles can be specified with two SEA-Drive options, namely an 88kWh battery which provides a claimed 380km range, or a 60kWh battery delivering up to 260km of use.
Fast DC to DC charging is available for the system, which provides up to 80 per cent battery power in less than one hour, with a five-year factory warranty on the batteries supplied.
SEA Electric says that for users, the switch to EV provides a comfortable work environment, with health and safety considerations including no noise, fumes, heat, or vibrations.
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,” said Matt Cahir, MEVCO CEO.
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“It enables the world’s leading EV technology for heavy and light commercial trucks to be commercialized 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, the announcement is 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.
“Across all industries, companies now understand they have a role to play in ensuring they are a part of the solution to the environmental problems we face,” said Tony Fairweather, SEA Electric founder & CEO.
“Through MEVCO, the mining industry will now be able to access cutting-edge technology, which delivers top performance and total-cost-of-ownership prospects, all with sustainability at the forefront.
“This deal is a significant step forward in Australia and shows just what is possible when it comes to electrifying the world’s fleets.”
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