Anaheim-based Waev, maker of Taylor-Dunn, Gem and Tiger electric-powered light vehicles, has secured a new asset-based lending facility from J.P. Morgan to fund company growth.
“The working capital will further energize Waev’s forward momentum and allow for new products to be brought to market at scale to meet growing customer demands for the company’s EV solutions,” Waev said in a news release today.
The amount of the loan was not disclosed.
“J.P. Morgan is working to provide capital to grow key industries across the green economy,” Julia Grinshpun, executive director, J.P. Morgan Green Economy Banking said in the news release. “We’re proud to support Waev and the work they are doing to deploy a range of EVs, which will help advance decarbonization and grow local economies.”