Founded in 2022, Qucev is a new age cargo EV OEM, with its first products being 4W light commercial vehicles (LCV) in the 3.5-ton GVW category and 4W heavy commercial vehicles in the 5.5-ton category.

The company is targeting a total addressable market (TAM) of 700k annual unit sales in its initial focus segment with a target of 20-30% EV penetration by 2030. Qucev’s LCVs are geared toward e-commerce and intracity deliveries, while its HCVs are designed for applications in ports, cement, steel, mining, and mid- to last-mile logistics.