Munro EV Secures £2M Boost to Accelerate Production of All-Electric 4x4s for Heavy Industry

Scottish electric vehicle manufacturer Munro EV has secured £2 million in new funding from existing investor Elbow Beach and other backers, as the company ramps up production of its rugged, zero-emission 4x4s designed for demanding sectors such as mining, defence, and construction.

The funding round will help Munro expand its Glasgow production facility, scale up manufacturing, and meet growing demand from commercial customers worldwide. The company currently holds preliminary orders for 246 vehicles, representing a value of over £17 million, and expects the expansion to create up to 300 new jobs in Scotland.

Meeting Industry Demand for Decarbonisation

Founded in 2019, Munro EV builds the M-Series, an all-electric utility vehicle purpose-built for harsh operating environments where diesel vehicles have long dominated. Each vehicle offers a 1,000kg payload and up to 170 miles of real-world range, targeting sectors that have historically struggled to decarbonise due to performance demands.

While global attention has focused on electrifying passenger vehicles, commercial all-terrain fleets remain heavily diesel-dependent, contributing significantly to industrial emissions. Mining alone accounts for 4–7% of global greenhouse gas emissions, according to McKinsey & Company.

“This investment validates the critical need for zero-emission solutions in heavy industry,” said Russel Peterson, Co-founder and CEO of Munro EV. “Companies in mining, defence and construction are actively seeking alternatives to diesel vehicles — not only to meet sustainability targets but also to reduce operational costs. The M-Series delivers on both fronts without compromising on performance.”

Backing from Climate Tech Investor Elbow Beach

The funding comes from Elbow Beach, a UK-based climate technology investor focused on industrial decarbonisation. The firm’s co-founder and CEO, JP, said:

“Elbow Beach is proud to support Munro, a standout example of Scottish advanced manufacturing. Through its focused approach, Munro is delivering a capital-light solution that accelerates decarbonisation while driving meaningful commercial benefits for the real economy.”

Scaling Production and Building Capacity

Munro plans to increase annual production capacity to 5,000 vehicles within six years, building on early deliveries to clients including Gleneagles Hotel and Denbighshire Council earlier this year.

The new funding will be used to:

• Expand assembly and engineering operations in Glasgow

• Develop sector-specific vehicle configurations

• Strengthen sales and service networks across mining, defence, and construction sectors

Peterson added that Munro’s vehicles could align with the UK Ministry of Defence’s Land Mobility Strategy, which seeks replacements for legacy vehicles such as the Land Rover and Pinzgauer.

“The Munro M-Series can meet those requirements while being more capable, quieter and cleaner,” he said. “This isn’t a lifestyle vehicle — it’s designed from the ground up for hard, off-road work in the toughest conditions.”

Scotland’s Homegrown Automotive Pioneer

Munro EV is currently Scotland’s only volume vehicle manufacturer, producing electric 4x4s engineered for durability, simplicity, and low maintenance. The company’s modular design approach leverages existing components to reduce costs and maximise uptime, offering what it claims is a superior total cost of ownership for operators.

Like the Scottish mountains it’s named after, the Munro brand aspires to endurance and longevity. “Born off-road, born electric,” its vehicles are built to withstand extreme terrains while helping industries transition toward a cleaner, more sustainable future.

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About Munro EV
Founded in 2019, Munro EV designs and builds the Munro Series M, an all-electric 4×4 developed for commercial and private customers. The Glasgow-based firm supplies vehicles to industries including construction, mining, defence, and leisure.