Z Energy has more than doubled its investment in Mevo, the Wellington-based electric car-sharing firm, with The Wellington Company and European Motor Distributors also investing.
Z has lifted its stake in Mevo to 12 per cent, funding it by a further $300,000 on top of its existing $250,000 investment from September last year. European Motor Distributors, which is Audi NZ's parent company, and The Wellington Company have each become 2.1 per cent shareholders, Mevo said.
"It's really promising to see established New Zealand companies like European Motor Distributors, The Wellington Company, and Z Energy actively engaging in environmentally responsible, future-focused initiatives," chief executive and co-founder Erik Zydervelt said in a statement.
"Our investors share a vision for carbon conscious transport systems in New Zealand and have been fantastic partners to help make this a reality."
Mevo said it will use its funding to further fuel its expansion and add staff, after recently hiring Sophia Rizos as head of growth and Maryon Wils as head of enterprise sales.
