Investors Are Betting Millions on the TELO MT1 Electric Mini Truck

• TELO’s electric mini truck has over 12,000 preorders worth more than $600 million before even hitting full production.
• The MT1 is shorter than a MINI Cooper but can still tow 6,600 pounds and haul full sheets of plywood.
• TELO raised $20 million Series A funding with backing from Tesla co-founder Marc Tarpenning and designer Yves Behar.

Ever seen something so unexpected it makes you wonder what else has been hiding in plain sight? That’s the feeling after hearing that TELO Trucks just raised a $20 million Series A to push its MT1 electric mini-truck into production. Big bucks, big promises, tini-truck size.

Did you know TELO’s MT1 is about 152 inches long? That’s the same as a two-door MINI Cooper. Yet it offers towing capacity of 6,600 lb, a bed that extends from 5 to 8 feet with a clever mid-partition, seating for five (or up to eight in some layouts), and up to 350 miles of range. 

Yes, you read that right… A compact all-electric truck that tries to give full-size work utility without being unwieldy in town. Sounds like someone finally asked, “Why can’t trucks be smarter?”

Here’s what TELO just pulled off. Their recent funding round, oversubscribed, led by Yves Behar (designer famously known for fuseproject) and Marc Tarpenning (Tesla co-founder), drew in serious backing from TO VC, E12 Ventures, Neo, Marc Benioff, Uncorrelated Ventures, Nova Threshold, MCJ, and others.

Before this, they had raised about $8 million across seed and pre-seed, built two full pre-production prototypes, got praise from automotive media, and racked up 12,000+ reservations (>$600 million in potential revenue) from both consumers and fleets.

Now, what makes TELO’s strategy stand out (and yes, it’s rare in EV land)?

One: capital efficiency. Many startups struggle, spending tens or hundreds of millions just to get prototypes running. TELO has done much of that with under $10 million.

Two: right-sizing. People living in the city hate giant trucks. Tight parking, narrow streets, congestion. TELO’s MT1 aims to combine what people need (payload, towing, seating, utility) without dragging around the excess.

Three: strong specs on paper. Dual‐motor AWD, standard 300 hp (single motor) up to 500 hp (dual), range options (approximately 260 miles for standard battery, up to 350 miles for long-range), decent payload (approximately 2,000 lb in single motor version), fast charging, etc.

But, there are some hurdles. Crash safety standards in the US are strict. Any new truck must hit safety regs, especially with front crumple zones, pedestrian protection, etc. TELO claims they will meet those.

Also pricing. The base MT1 is expected around $41,500 for standard range, single-motor. People are begging for EVs under the $30,000 mark. The long-range dual motor versions cost more. With the federal tax credit ending on September 30, buyers may not find this price dropping any further.

TELO showed off the two prototype MT1 trucks at Electrify Expo in San Francisco (Alameda Point, California). People got a close view, asked a lot of questions. No test drives though. Just eyeballs, imagination, curiosity. Attendees definitely wanted to grab the wheel (and key) and take it for a spin on the demo course.

So, the U.S. truck market is used to ever-bigger rigs, gas guzzlers, excessive size. TELO tries a different path which involves utility, efficiency, and practicality. For city dwellers, small business fleets, delivery services, municipal work, this could hit a sweet spot. If execution holds up. If safety passes. If supply chain holds.

IMAGES: ELECTRIFY EXPO

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