Choco Up has entered into a US$600K funding partnership with Clean Vehicle Solutions (Cleva), a Hong Kong based electric vehicle company in support of it’s aim of transitioning Asia to a “decarbonised society”.
Choco Up’s funding will allow Cleva to boost its growth, marketing and the scale of operations and technology within Asia.
This funding will also provide Cleva with increased working capital and strengthen its war chest to crystallise its ambitions in the industry.
“We understand the value of investing in a green future. With the negative effects of climate change continuously looming over Asia and the world, we strive to support businesses that champion environmental and social responsibility,” said Percy Hung, Co-founder and CEO of Choco Up.
Cleva was established in 2016 to address the lack of action towards climate change by inducing the transport industry to embrace clean energy solutions.
Cleva is led by founder and CEO Robin Hughes who has over 40 years of experience in Transport Economics, International Treasury and structured finance in Europe and Asia.
“Understanding and sharing our vision of a green future, they are helping us realise our goal of delivering affordable, electric passenger transport vehicles to the public transport market within the region.
“Choco Up’s platform is simple and the process of funding was swift. We are incredibly grateful to Choco Up for providing us rapid access to non-dilutive capital as we ramp up our efforts to decarbonise Asia, one EV at a time.” says Robin Hughes, Founder & CEO of Cleva.