Shift4Good has announced its investment in TOLV (formerly Phoenix Mobility). TOLV specializes in retrofitting internal combustion vehicles to electric power. Shift4Good recognizes the retrofitting of used vehicles as crucial alongside the production of new EVs, in facilitating the transition to electric vehicles. As a VC fund focused on the decarbonization of transportation, the objective of Shift4Good with this investment is to support the advent of an industrialized retrofit ecosystem in France and Europe.
The investment aims to support TOLV in executing its industrial partnership and ensuring the success of its retrofitting initiative, particularly in the Light Commercial Vehicle (LCV) segment.
By endorsing TOLV’s development, Shift4Good aims to contribute to the rapid scaling of retrofit solutions that can have a significant environmental impact on CO2 emissions from commercial vehicles, while making zero-emission mobility accessible to a wider public and facilitating a just transition.
Find out the full press release here