Telo raises $20 million to build tiny electric trucks for cities

Big electric trucks are having a hard time. The Cybertruck is a bust, Stellantis just canceled the Ram 1500 EV, and even sales of Ford’s promising F-150 Lightning have been on the decline. But the United States loves trucks. So is the key to making them love electric trucks… a very small one? That’s the bet that California-based startup Telo has been making since its inception in 2022. The company has designed a bite-sized truck called the MT1 with an admittedly not-so-small starting price of around $41,000. Now, investors want...