Janus Electric Expands US Business with $45m in Truck Conversion Contracts

Janus Electric (ASX: JNS) has expanded its US business with a total $45 million in orders from California-based fleet operators Golden State Express, WEHACO, Tradelink Transport, and King Fio Trucking.

The signed orders for a combined 67 diesel-to-electric truck conversions, 77 swappable battery packs, and four Janus Charge & Change Stations (JCCS) follow a $10m order earlier this week for 16 conversions by repeat customer Ability Tri-Modal.

Adoption of the Janus conversion and battery-swap platform by the fleet customers demonstrates the infrastructure’s potential to support multiple affiliated businesses operating from a common location.

Boosted Order Book

The new orders boost the company’s North American order book to 112 conversions (87 in the US and 25 in Canada), while increasing its US customer base from one to five fleet operators.

The larger order base supports the company’s manufacturing and supply chain ramp-up and provides increased visibility for battery, conversion module, and charging station requirements.

Fleet conversions will be supported by authorised Californian dealer Electric Vehicle Choice (EVC), which participates in the state’s hybrid and zero-emission truck and bus voucher incentive project (HVIP).

First deliveries are expected to commence before year end and build through 2027.

Early EV Adopter

Established in 1996, Golden State Express has been an early adopter of electric trucks, cleaner fleet technology, and implementing alternative charging solutions to support its fleet experience.

Golden State Express and WEHACO are led by Fred Johring, who is a founding member of California’s Harbour Trucking Association (HTA).

HTA members collectively operate more than 33,500 trucks servicing the freight and drayage market at the ports of Los Angeles and Long Beach.

The companies have placed two separate orders for 20 Janus diesel-to-electric truck conversions, 22 swappable battery packs, and a 50% share of one JCCS, for a gross contract value of $14m apiece.

Battery-Electric Experience

Tradelink owns a fleet of 48 trucks—including 15 Volvo VNR Electric Class 8 vehicles—and is experienced with battery-electric trucks, developing supporting charging infrastructure and accessing California incentive programs.

King Fio operates 30 trucks including an established battery-electric fleet, and has previously stated its plans to develop a full zero-emission fleet.

Tradelink has ordered 21 conversion kits, 25 swappable battery packs, and two JCCS units for a total spend of $14m, while King Fio has ordered six conversion kits, eight swappable battery packs and one JCCS for $3m structured as a Janus-financed lease-to-own arrangement without need for a customer deposit. 

Janus Electric and EVC have agreed to lodge applications on behalf of all customers for relevant California incentive grants relating to trucks, batteries, and shared charging infrastructure.