WattEV Funding Rounds
| Round (date, type) | Amount ($M) |
|---|---|
| Seed PE (2021, equity, Canon Equity) | 6 |
| CEC Grant (2022-07, state grant) | |
| State + Federal Grants (2023-07) | 34 |
| Apollo + Vitol Structured Facility (2023-11, debt + equity) | |
| Federal CFI Grant (2024-01, DOT) | 75.6 |
| Corporate Minority (2026-04, Mission Critical Group) |
Updated at 2026-04
WattEV Truck-as-a-Service: Annual Subscribers and Cumulative Miles
2022-2026 (target)
Cumulative TaaS Miles Operated
Updated at 2025-FY
WattEV in Semi Trucks
WattEV
$
Truck-as-a-Service with dedicated charging depots; $75.6M FHWA grant.
Key Milestones
Jun 2021
Launch
WattEV founded in Long Beach CA by Salim Youssefzadeh to build a 'truck-as-a-service' heavy-duty BEV depot network: vertically integrated solar-+-storage charging stops paired with leased Volvo VNR Electric / Tesla Semi trucks for drayage fleets
Dec 2022
Expansion
WattEV opens Bakersfield CA truck stop on I-5: 26 charging bays incl. MCS-ready stalls, ~25 MW solar+storage onsite: first dedicated public HD truck-charging stop in the United States
Aug 2023
Expansion
Port of Long Beach WattEV charging depot opens; co-funded by CARB and California Energy Commission: second WattEV site, anchors port-drayage fleet conversions tied to ACF compliance
Apr 2024
Milestone
WattEV deploys first Megawatt Charging System (MCS) 1.2 MW charger on a US public site (Bakersfield): first publicly accessible MCS unit in North America, ~3x faster than Tesla Megacharger v1
Nov 2024
Milestone
WattEV closes $108M Series B (Vitol-led) for Gardena and Carson site expansions; fleet-as-service contracts pass 50 trucks running on Volvo VNR Electric: deepest-pocketed pure-play HD charging operator in California
May 2026
Partnership
WattEV places ~370-truck Tesla Semi order: largest single Tesla Semi commercial order to date; pairs with Long Beach, Bakersfield, Carson and Gardena charging hubs to seed truck-as-a-service drayage fleet