A Bellshill electric vehicle developer has secured a funding boost as it looks to revolutionise the transport needs of Scotland.
PeddleSmart’s range of “FlexiQuad” vehicles are said to be carbon neutral and offer interchangeable delivery trailers.
They will be manufactured at the firm’s facility in Larkin Way and are available to pre-order.
The company sought loan finance through Business Loans Scotland and has successfully secured a loan of £49,475 to help “capitalise on growth opportunities”.
As a result, the first vehicles are set to come off the production line in the third quarter of 2020.
Founder and chief executive Adam Reid said: “Pedal electric vehicles that can carry freight and people in the last-mile are an emerging market disruptor, helping local authorities to meet their urban transport planning objectives in towns and cities in 2020.
“We’re just seeing the start of demand for vehicles like ours and we are one of the first European manufacturers to bring to market second-generation pedal electric vehicle range focused on B2B and B2C markets.
“We’ve already received 70 pilot and trial requests from UK public and corporate sectors, including the NHS and the city councils of Edinburgh and Dublin.
“We’re excited by the prospect of this marketplace, and the potential to support 2030 emissions targets.”
Andrew Dickson, fund manager of Business Loans Scotland, added: “The loan awarded to PeddleSmart demonstrates our commitment to supporting small and medium sized enterprises across Scotland with funding to grow.
“I look forward to watching PeddleSmart flourish and seeing their zero-carbon vehicles being utilised by users across the UK and beyond.”