Breathe EV Ltd - Case Update

The business and assets of Breathe EV, which provides electric vehicles (“EVs”) including Teslas to private-hire drivers, has been sold out of administration, safeguarding a large taxpayer investment.

The company entered administration on 13 June, just 15 months after receiving an injection of £3.2 million from the Mayor of London’s Energy Efficiency Fund (“MEEF”) to fund approximately 100 EVs. Paul Appleton and Adam Sharma of Begbies Traynor were appointed joint administrators.

Now, the company and its assets have been acquired by Otto Car in a deal that will see approximately 130 EVs transfer to Otto Car and the preservation of the jobs of over 100 private hire vehicle drivers.

The MEEF investment will also be protected under the arrangement, as Otto Car will assume responsibility for the fixed charges held over the vehicles.

A press release announcing the sale can be found HERE.