We’ve been investing in vehicle electrification since 2018. Our journey began with scooters and bicycles, then moved into passenger cars, and now we’ve arrived at what feels like the most obvious but also the most challenging frontier: heavy commercial vehicles.
This step wasn’t easy. On the one hand, it was foreseeable. On the other hand, for a long time we couldn’t find a startup whose product and founder team convinced us. Timing was another concern: you don’t want to be too early. We’ve learned this the hard way in autonomous driving. Back in 2017, MobilityFund I invested in fleet orchestration for autonomous vehicles — strong founders, strong technology, but simply too early. In MobilityFund II, by contrast, our autonomy investments are performing very well.
With commercial vehicles, we wanted to avoid the same mistake. While we have always believed electrification was inevitable, it needed to make financial sense. Electricity generation costs have been falling for decades, as have battery costs—the two key drivers of electric vehicle economics. But price parity (the moment when total cost of ownership equals that of combustion engines) arrives unevenly: country by country, vehicle class by vehicle class.
Last-mile delivery vans will reach viability sooner than long-haul trucks.
Buses are already ahead: operators are often municipal companies, political will matters, and buses mostly run in city centers where exhaust fumes are least tolerated.
After 1.5 years of searching, we’ve invested in K2 Mobility — the startup that convinced us above all others. The electrification of heavy truck and bus fleets is accelerating, and so is the complexity of charging, energy optimization, and integration into fleet operators’ core systems.
K2 Mobility delivers:
✅ Seamless integration of route plans, vehicle data, and charging infrastructure
✅ Optimized energy use and cost efficiency
✅ Scalability and flexibility for fleets at every stage of electrification
Crucially, K2 Mobility serves both truck and bus fleets, making its market immediately broad and relevant.
Though based in Germany, K2 Mobility’s largest customers are international:
ASKO — Norway’s largest food distributor. Lower electricity prices and extended operating hours (thanks to quiet nighttime delivery) make e-trucks particularly attractive there.
Hansea — Belgium’s largest bus operator.
Amazon, DB Schenker and ABB — who also trust K2 Mobility’s solutions.
We also see strong synergies with other portfolio companies:
Pionix (open-source operating system for charging stations): already working with K2 Mobility on enterprise projects.
Mansio (relay transport system with trailer swaps): helps freight forwarders reach profitability faster by breaking long routes into e-truck-friendly sections.
Together, these companies accelerate electrification and make it more economically viable: trucks can return to depots for cheaper charging, run in multiple shifts, and integrate seamlessly into logistics workflows.
Our investor base — spanning logistics, mineral oil trading, and energy — helps us bridge the old and new worlds, creating a true ecosystem where everything connects.
We believe the electrification of commercial vehicles will be a defining transformation of the next decade. With K2 Mobility, alongside our other portfolio companies, we are proud to play a role in making this shift happen.
If you would like to be informed about our upcoming MobilityFund III, please send a message to jan@mobility.fund.
-Jan
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