- 01Janus wins $3.1m repeat order for six conversions and battery sets.
- 02King Fio commitment hits 12 trucks, subject to incentives.
- 03Order book: 124 trucks, worth ~$64.6m.
Janus Electric Holdings (ASX: JNS) has received a $3.1 million repeat order from US-based King Fio Trucking for six Class 8 electric truck conversions and six JBS-650 swappable battery sets.
The order increases King Fio’s commitment to 12 trucks and 14 battery sets, with the additional vehicles set to utilise the same Janus Charge and Change Station (JCCS) and two 250 kilowatt chargers included in the company’s original order.
The order, which will be fulfilled by Janus’ California-based conversion partner Electric Vehicle Choice, is conditional upon approval of applicable local electrification incentives which could provide King Fio with up to US$1.6m in funding.
The additional vehicles are expected to generate recurring subscription revenue for Janus as they are delivered.
Janus has scheduled the delivery of 18 converted trucks to California-based fleet operators before year end including six for King Fio, four for Ability Tri-Modal, and six for Tradelink, boosting its North American order book to 124 trucks with a combined gross contract value of approximately $64.6m.
Repeat Customer
King Fio Trucking provides local and long distance container drayage, transloading, and warehousing services to 30 terminals across the Southern California port and logistics network.
The company operates approximately 30 trucks, including an established battery-electric fleet, and has previously stated its plans to develop a full zero-emissions fleet.
King Fio placed an initial $3m order in July for 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 managing director Ben Hutt said King Fio’s repeat order was a “strong endorsement” of Janus technology that demonstrates continued demand for electric truck conversion and battery swapping solutions.
Incentive Programs
Janus' diesel-to-electric conversion technology enables operators to retain and repower their existing trucks, creating opportunities to access incentive programs that support vehicle repowering as well as broader zero-emission vehicle initiatives.
The company is currently assessing further conversion-eligible programs across North America, including Canada’s Green Freight initiative designed to help on-road freight fleets reduce fuel consumption and greenhouse gas emissions.
New drayage programs recently announced by the Port Authority of New York and New Jersey could support Janus’ entry to the US east coast market.
Janus and Electric Vehicle Choice have previously agreed to lodge applications on behalf of all customers for relevant California incentive grants relating to trucks, batteries, and shared charging infrastructure.
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