The world鈥檚 first all-electric quad bike business has secured a six-figure funding package from HSBC 海角视频 to increase production - allowing it to meet rising demand.
Eco Charger, based in Ilfracombe, North Devon, will use the funding to increase production and invest in its supply chain due to increasing global demand for its eco-friendly quad bikes.
The Eco Charger business was born in 2011, when founder Fred Chugg recognised a gap in the market for electric powered all-terrain vehicles (ATVs). Since then, the business has been able to expand overseas to the USA and Australia.
South West manufacturing news
Built to high specifications and to meet green credentials, Eco Charger鈥檚 cutting-edge vehicles operate in numerous global sectors, including eco-tourism, farming, policing and public services.
Russell Crisp, executive chairman of Eco Charger, said: 鈥淥ur vehicles encapsulate British ingenuity, craftsmanship, and our ongoing determination to produce premium 鈥榳orkhorses鈥.
鈥淥ur vehicles are constantly being innovated into products that fuse together nature and technology, as seen in our recent move to lithium power. We鈥檙e fortunate that our business doubled in size during the pandemic and we鈥檙e continuing to see increased global demand for our bikes.
鈥淲e鈥檙e grateful for the support HSBC 海角视频 has given us from the very beginning, when Eco Charger was just a far-fetched idea. We couldn鈥檛 have expanded the way we have without the support of the bank and our relationship manager, Gareth Clarkson.鈥
David Butler, area director for Devon, Cornwall and Somerset at HSBC 海角视频, said: 鈥淲e鈥檙e delighted to be supporting Eco Charger鈥檚 ongoing expansion as a leader in British and global, sustainable automation development and manufacturing. We look forward to continuing our relationship during an exciting time for Eco Charger as the business grows to meet high demand.鈥
Rob King, head of sustainable finance at HSBC 海角视频, added: 鈥淭his is a great example of an innovative business. Supporting 海角视频 Businesses with their sustainability ambitions is an important part of our commitment to help our customers thrive in the transition to net zero.鈥
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Eco Chamber was founded at Keypitts farm in the of the Devon countryside, which has been in the Chugg family since the 15th Century. Fred and Wendy Chugg decided to diversify away from farming and in1998 riding stables and quad bikes were made available to the public.
Off-road driving was added and in 2009 Mr Chugg and Graham Jackson decided to develop an electric quad bike which would out perform others on the market. They wanted it to use renewable energy and their electric quad bikes are now marketed under the Eco charger brand. The range consists of models such as Eliminator, Dominator and Lithium Prestige. Taking the renewable concept further, the bikes are produced in a factory running on renewable energy.
