Linear Labs raises $6 million to expand EV motor manufacturing in Texas

October 15, 2020

Electric motor manufacturer Linear Labs has raised an additional $6 million in funding to further develop manufacturing capabilities and grow its employee base. The new capital raise comes shortly after the announcement of a $68.9-million partnership with the City of Fort Worth, Texas, which includes an incentive package for Linear Labs’ plans to develop an advanced manufacturing facility in the area.

The new funding will be used to expand manufacturing expertise, supply chain infrastructure and logistics, as well as advanced automation and robotics engineering, in order to meet the current signed customer needs of producing 100,000 units in 2021, with a target of 1,000,000 units the following year. Clients for these motors include global OEMs in automotive, micro-mobility and industrial pump applications, as well as residential and light commercial HVAC.
Read Article at Charged EVs

You May Also Like…