October 12, 2017

IKEA joins $22 million investment in XL Hybrids to electrify company vehicle fleets

XL Hybrids, a company specializing in converting gas- and diesel-powered company vehicles to electric-hybrids, has raised $22 million in a series D round of funding. The round included participation from IKEA Group (IKEA) and Constellation Technology Ventures (CTV) — the VC arm of U.S. energy giant Exelon — in addition to a number of “large family office” investors.

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