Tembo e-LV was born out of a business in the Netherlands that focused on off-road 4 wheel drive vehicle customisations for the mining, agricultural and humanitarian aid sectors.
Tembo today is a specialist battery-electric and off-road vehicle company that focused on designing and building ruggedised light electric vehicle solutions for customers across the globe in the mining, infrastructure, utilities, government services (including defence, police vehicles and ambulances) and humanitarian aid sectors.
In October 2020, 51% of Tembo was acquired by the NASDAQ listed VivoPower, which was founded by Arowana. This acquisition has had an immediate impact, with members of the VivoPower board leveraging their relationships to secure an exclusive partnership with GB Auto Group in Australia, worth at least US$250m. This deal was announced in January 2021 and expands GB Auto’s position as Australia’s exclusive distributor of the Tembo electric Toyota Land Cruiser, electric Toyota Hilux, and Tembo electric vehicle conversion kits. It is believed to be the most valuable deal for electric vehicles in the Australasian region to date.
Having successfully deployed pilot vehicles into the mines of some of the world’s largest mining companies, VivoPower expects GB Auto to significantly expand its operations in Australia and purchase at least 2,000 Tembo electric conversion kits in the first four years of the agreement. Combined with the electric vehicles, the orders are expected to generate US$250 million in revenues over the four-year period. The first deliveries are scheduled for May this year – COVID lockdown rules permitting.
The collaboration also positions VivoPower as GB Auto’s partner of choice for the financing, construction, and maintenance of Tembo products and related sustainable energy solutions (“SES”), including charging infrastructure, battery storage, and micro-grids.
In February 2021, VivoPower injected further capital into Tembo to fund its hypergrowth and as a result of this, moved to 100% ownership of Tembo.