QEV Technologies strengthens its leadership with the entry of GAEA-Inveready in its share capital with 7.5 millon euros and the accession of new partners to the Decarbonisation Hub

  • The leading venture capital manager Inveready, through GAEA Inversión SCR -its Private Equity vehicle focused on investing in expansion-stage companies-, bets on QEV and its key role on electromobility
  • The Decarbonisation Hub, led by QEV Technologies, defends a project for the whole country, and adds new partners specialist in micromobility, technological development and infrastructures.
  • QEV’s candidacy forecasts an investment of 1,000 million euros, an annual production of 100,000 vehicles and the creation of more than 4,000 direct jobs by 2025.

Barcelona, October 1st 2021.- QEV Technologies, a pioneering company specialised in electric mobility, continues to add new strategic partners, know-how and financial capacity to the Decarbonisation Hub (D-Hub). QEV has just announced the entry of Inveready through its vehicle investment division GAEA Inversión SCR -one of the leading venture capital managers in Spain-, to its share capital with an investment of 7.5 million euros. The adhesion of eight new partners to the Hub project, consolidates QEV Technologies’ leadership as the only project from Spain with the greatest positive impact on the future of Nissan’s plants and the country as a whole.

The implementation of the Decarbonisation Hub in Zona Franca would position Spain as an international key player in electric mobility and would ensure the future of the three factories that Nissan has in the area thanks to a comprehensive and scalable project. QEV Technologies’ proposal is capable of producing more than 100,000 vehicles per year by 2025, and would create more than 4,000 direct jobs and nearly 10,000 indirect jobs.

QEV and GAEA-Inveready are committed to electromobility

The entry of a strategic partner such as GAEA-Inveready to QEV Technologies demonstrates the great potential of our electromobility projects. At the same time, the Decarbonisation Hub offers a key project for the country, which is committed to local talent and to protecting and creating new jobs in Spain. It is truly an opportunity for the future that we must not and do not want to miss“, says Joan Orús, CEO of QEV Technologies. He adds: “We have the experience, the know-how and the resources. Now we just need to get rolling”.

Inveready, a leading private equity firm with more than 500 million euros in assets under management, has backed QEV Technologies because of its technological and commercial leadership, as well as the great potential of the electromobility market. GAEA Investment’s financing will focus on boosting the manufacture of commercial vehicles and bus platforms, a segment with many options to grow.

The huge problem of CO2 emissions is concentrated in cities, which urgently require the implementation of electric vehicle fleets. Public transport consists of scheduled routes where charging cycles can be planned. In this market, local bus body manufacturers play a key role and need technology partners like QEV to offer competitive products. As a result, QEV is experiencing a noticeable increase in local and international demand for this production line.

Carlos Conti, partner at GAEA and Inveready commented: “Since its creation, QEV has been a technology leader in the markets where it operates, ranging from high performance racing to high performance cars. Now, a new market opportunity has arisen to be part of the electrification of city bus fleets, where SMEs can play a relevant role. We are very excited to be able to contribute to the move towards cleaner cities hand in hand with leading local companies in sectors that are the future. We offer our support today and we have the financial capacity to continue to do so tomorrow“.

The D-Hub adds new strategic partners

QEV Technologies, backed by more than 20 years of commitment to sustainable mobility, has managed to add eight new partners in recent weeks, expanding the hub’s specialisation in key areas such as infrastructure management, micro-mobility and technology development.

In terms of infrastructure management, the following companies have joined the project: ENGIE, Europe’s leading energy group; the Ilunion Group (ONCE social work), a national leader in facility services; the Ágora Invest Group, focused on logistics services, as well as a group specialising in large infrastructures and real estate development and with a broad investment capacity.

Likewise, in the field of micro-mobility, the industrial projects of Muving (Vela Mobility) and The E-Miles Company have also joined the D-Hub. In the technological area, have entered CIM Centre, belonging to the UPC, and EURECAT (Battech). In parallel, the Hub is also working on the development of a cutting-edge project centred on a battery factory that would guarantee the scalability of production at Nissan’s factories.

As key projects, the D-Hub plans to convert the production of the Navara pickup into an electric pickup, retrieving the legendary EBRO brand. And the Hub will also implement a Contract Manufacturing line, with the aim of exponentially multiplying the volume of industrial production, in collaboration with manufacturers such as Inzile, Volta, Quantron, HispanoSuiza, Lupa, Voltia, EBRO (Ecopower) and Ronn Motor Group (RMG). It has also been confirmed the incorporation of a new electric truck manufacturer, the English company Tevva Trucks.


About QEV Technologies

QEV Technologies, a pioneering electric mobility company created in Spain, is backed by a long and solid track record in the sustainable mobility sector, with a commitment to electric vehicles and a decade of experience in the manufacture of electric supercars. The company is focused on the design and manufacture of electric vehicles for different sectors, as well as on the conversion of combustion vehicles to electric vehicles. QEV has also an extensive experience in motor racing.

Its founder, Joan Orús, began his journey 20 years ago with the creation of the solar car that toured the salt lakes in Australia. His competitive drive led the team to achieve countless victories in different championships. The experience gained in WRC, TCR, WTCC and Formula E racing has enabled QEV Technologies to develop cutting-edge technology. Pioneering innovations has opened the door to technological development and the manufacture of complete vehicles from scratch for other automotive companies.

About Inveready and GAEA Inversion

Inveready is one of the leading Venture Capital managers in Spain. Inveready invests through different specialist verticals (Information Technology, Life Sciences, Venture Debt, Alternative Markets and Private Equity) in companies with a strong technological and innovative component. To date, it has 150 active companies in its portfolio, +40 successful divestments and more than €600M of assets under management. Headquartered in San Sebastian, Inveready has offices in Barcelona, Madrid and San Sebastian, Inveready has been recognised on multiple occasions by ASCRI and Preqin for the return of its funds and transactions.

GAEA Inversión is an investment entity with €125m of available capital that was created with the objective of supporting small and medium sized growing companies, where GAEA can actively contribute to their expansion. The fund, managed by Inveready Asset Management, specialises in supporting Iberian SMEs in their development phase, by providing capital or other financial instruments to meet the needs of each transaction: the company, its shareholders and expansion plans.

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