Munro Vehicles in talks with SNIB over new funds
Scotland’s first production scale car manufacturing plant in 40 years is due to announce a further funding round to raise about £15 million.
It is understood the state-owned Scottish National Investment Bank is among the investors that Munro Vehicles is talking to in order to raise Series A funding.
Munro Vehicles officially launched its Mk1 all-electric 4×4 in Edinburgh tonight ahead of the start of manufacturing in East Kilbride next year. The first vehicles are expected to roll off the production line in the second quarter.
The company, which launched in 2019 has made rapid progress with significant interest in the vehicle from abroad.