Shift EV

What Shift EV does

Shift EV is an Egyptian electric mobility technology company, founded in 2019 and headquartered in 6th of October City, Giza, that converts existing internal combustion engine (ICE) commercial vehicles into fully electric vehicles using a proprietary process called Electrofitting. The technology uses pre-engineered modular kits — plug-and-play drivetrains and lithium-ion battery packs — that integrate with existing vehicle chassis in under one hour on the production line, covering commercial classes from 1-tonne minivans to 9-tonne trucks across OEMs including Ford, Renault, Isuzu, Toyota, Suzuki, Citroen, and Chevrolet. The company operates its own battery manufacturing facility claiming 500 MWh/year production capacity and positions itself as MENA's largest battery pack OEM. Its product portfolio spans the Electrofitting conversion service, in-house designed lithium-ion battery packs offered under a Battery-as-a-Service model, and ShiftWare, a real-time fleet management platform with AI-based route optimization and predictive maintenance.

The company monetizes primarily through a Transition-as-a-Service (TaaS) subscription model, launched in May 2023, where customers pay a fixed monthly fee with zero upfront capital expenditure and Shift EV is repaid from the customer's reduced fuel and maintenance savings. Disclosed customer outcomes include approximately 60% operating expense reduction from day one versus diesel fleets, 99.9% uptime SLAs, and reported case-study results such as 70% operating cost reduction for Danone Egypt. Named enterprise customers span FMCG (Nestlé Egypt, Danone Egypt, Carrefour, Edita Trade & Distribution covering ~1,200 vehicles and 37M km/year), e-commerce/last-mile delivery (Mylerz), OEM manufacturing (Raya Auto for battery supply and co-manufacturing), and service fleets (ABS).

Shift EV is backed by Union Square Ventures, Algebra Ventures, Wamda Capital, and Oman Technology Fund, with cumulative disclosed funding of approximately $17.6M across a 2021 seed round, a 2022 Series A ($9M), and a 2023 SEC Form D filing (over $6.25M raised of a ~$10M target). The company maintains a Boston office supporting North American engagement and opened a Madrid office in 2025 to lead its first European market entry in Spain, where its first electrofitted 3.5t van went on the road in September 2025. As of mid-2025, hundreds of vehicles were reported on the road with over 12 million kilometers traveled cumulatively.

Name

Shift EV

Legal name

Shift EV, Inc.

Website

https://shift-ev.com

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

51–100 employees

Short description

Shift EV converts existing ICE commercial vehicles into electric vehicles using proprietary Electrofitting modular kits and in-house lithium-ion batteries, delivered via a zero-upfront-cost Transition-as-a-Service subscription targeting FMCG, e-commerce, and OEM fleet operators across MENA and Europe.

Ownership category

akta.pro rank

Product category

Fleet Electrification Services

NAICS

Motor Vehicle Electrical and Electronic Equipment Manufacturing (336320), Motor Vehicle Transmission and Power Train Parts Manufacturing (33635), Passenger Car Rental and Leasing (53211)

SIC

Electronic & Other Electrical Equipment (No Computer Equip) (3600), Motors & Generators (3621), Services-Auto Rental & Leasing (No Drivers) (7510)

akta.pro primary industry

EV Retrofit & Electrification Conversions (Fleet/Commercial) (TLAKAMAK)

akta.pro secondary industries

EV & Hybrid Battery Service, Diagnostics & Reconditioning (TLAKAMAA), EV/Hybrid Service & Battery Repair (TLAKAAAJ), Hybrid Powertrain Integration Manufacturing (ICE-HEV/PHEV modules) (IMACAHAJ), EV Fleet Leasing & Subscription (EVs, Charging Bundles, Battery-as-a-Service) (TLABAHAH)

Keywords

• Fleet electrification services
• Commercial vehicle conversion
• Battery-as-a-service
• Lithium-ion battery manufacturing
• Fleet management software

Headquarters

HQ city

Al Jizah

HQ country

Egypt

HQ region

Africa

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Operations, Supply Chain, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Transition-as-a-Service (TaaS) Subscription: Fixed monthly subscription model where fleets pay from their reduced fuel and maintenance expenses. No upfront cost - Shift EV covers conversion costs and customers repay through savings. Includes battery leasing, buyback guarantees, and uptime SLAs.
2. Battery-as-a-Service: Leasing batteries from Shift EV removes uncertainty around capacity-fade and resale value, turning volatile costs into one predictable monthly charge. Shift EV handles degradation, replacement, and residual-value risk.
3. Electrofitting Conversion Service: Converting customer-owned ICE vehicles to electric using proprietary electrofitting technology. Customers can bring their own vehicle to be electrofitted, or lease a pre-electrofitted vehicle.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Shift EV converts existing internal combustion engine commercial vehicles into electric vehicles using its proprietary Electrofitting technology — modular, plug-and-play drivetrains integrated into existing chassis in under one hour. The company designs and manufactures lithium-ion battery packs in-house (delivered as Battery-as-a-Service) and bundles its ShiftWare fleet management software with every converted vehicle. The full offering is delivered via a Transition-as-a-Service (TaaS) subscription model with zero upfront cost, covering commercial classes from 1-tonne vans to 9-tonne trucks across Ford, Renault, Isuzu, Toyota, Suzuki, Citroen, and Chevrolet OEMs.

Product overview

Shift EV offers a unified fleet electrification platform centered on its proprietary Electrofitting technology, which converts existing ICE commercial vehicles to electric using modular plug-and-play drivetrains and in-house manufactured lithium-ion battery packs. The platform is complemented by ShiftWare, a fleet management software providing real-time monitoring and AI-based optimization, all delivered through a Transition-as-a-Service (TaaS) subscription model. The product portfolio covers commercial vehicle classes from 1-tonne minivans to 9-tonne trucks across multiple OEMs including Toyota, Ford, Renault, Isuzu, Suzuki, Citroen, and Chevrolet.

Differentiator

Problem solved

Functional benefit

Brands

• Electrofitting: Proprietary technology that converts existing internal combustion engine commercial vehicles to fully electric vehicles in under an hour
• ShiftWare
• Transition-as-a-Service (TaaS)

Products and services

• Electrofitting Proprietary technology that converts existing internal combustion engine (ICE) commercial vehicles into fully electric vehicles using modular plug-and-play drivetrains and battery packs, completed in under one hour on the production line. Supports commercial vehicle classes from 1-tonne vans to 9-tonne trucks across Ford, Renault, Isuzu, Toyota, Suzuki, Citroen, and Chevrolet OEMs. Designed for enterprise fleet operators seeking to electrify without replacing existing chassis.
• Lithium-Ion Battery Packs (Battery-as-a-Service) In-house designed and manufactured lithium-ion battery packs offered as Battery-as-a-Service (BaaS) for commercial vehicle classes from 1-tonne vans to 9-tonne trucks. Shift EV handles degradation, replacement, and residual-value risk, providing a predictable monthly charge and continuous chemistry and form-factor upgrades over the vehicle's life without full vehicle replacement.
• ShiftWare Fleet Management Platform Real-time fleet management platform included as standard with every Shift EV vehicle, providing live insights on battery health, range, uptime, energy use, and cost savings, with AI-based route optimization and predictive maintenance capabilities. Supports enterprise fleet operators managing electrified commercial fleets.
• Transition-as-a-Service (TaaS) Subscription Fixed monthly subscription offering that bundles vehicle electrofitting, Battery-as-a-Service, and ShiftWare fleet management into one contract. Requires zero upfront capital from the customer; Shift EV covers conversion costs and is repaid from the customer's reduced fuel and maintenance savings. Includes buyback guarantees and 99.9% uptime SLAs. Available to enterprise fleet operators in FMCG, e-commerce, logistics, and service verticals.

Quantifiable outcome

• ~60% operating expense reduction from day one compared to diesel fleets
• +8 more outcomes

Named customers6 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Eight partnerships are on record, tiered core, flagship and minor.

• Edita Trade & DistributioncoreStrategic or Co-development Partner · 17 February 2026Partnership to electrify ETD's nationwide distribution fleet of approximately 1,200 vehicles covering 37 million kilometers annually. Supports ETD's operational modernization strategy and serves 55,000 clients nationwide.
• ABScoreStrategic or Co-development Partner · 1 August 2025ABS partners with Shift EV to electrify their fleet.
• CarrefourflagshipStrategic or Co-development Partner · 1 July 2025Carrefour announced as Shift EV's latest partner, with entire fleet electro-fitted in a matter of days.
• Raya AutocoreTechnology or Integration · 28 July 2024Strategic battery supply partnership where Shift EV supplies locally manufactured lithium-ion batteries to power Raya Auto's light e-mobility products. Both companies intend to expand partnership across range of EV products. Marks first regional alliance capable of deep localization of electric mobility technology in MENA.
• Danone EgyptcoreStrategic or Co-development Partner · 8 May 2024Strategic partnership converting 50% of Danone Egypt's distribution fleet to electro-fitted refrigerated trucks. Aims to reduce carbon emissions by 6,000+ metric tons (equivalent to planting 240,000 trees until 2030) with 70% reduction in operating costs.
• MylerzcoreStrategic or Co-development Partner · 9 November 2023Agreement to convert Mylerz logistics vehicle fleet to electric vehicles using electrofitting technology. Fleet electrification in batches over 2023-2024 as fleet expands to support e-commerce market growth. First EV deployment in Egyptian e-commerce market.
• Nestlé EgyptcoreStrategic or Co-development Partner · 5 June 2023First-ever full electrification program in FMCG market in Africa and MENA. Converting Nestlé's logistics fleet to electric using Electrofitting technology for vehicles with 0.5-4 ton payload capacities. Supports Nestlé's Net Zero commitments by 2050.
• TraxlminorStrategic or Co-development Partner · 5 June 2023Egyptian startup supporting pilot deployment of Shift EV's technology in Nestlé's operations. Traxl provides trucking platform for visibility across supply chain.

Scale indicators9 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• SEA Electric: Australia/US-based company that repowers commercial ICE trucks and vans to fully electric powertrains. Directly comparable to Shift EV's Electrofitting model and target fleet customer base.
• Lightning eMotors: US-based provider of electric powertrains and conversion kits for medium-duty commercial fleets (vans, shuttle buses, trucks). Direct competitor in the fleet EV conversion and battery integration space.
• Motiv Power Systems: US manufacturer of all-electric chassis and powertrains for medium-duty commercial vehicles including step vans, box trucks, and buses. Comparable as a chassis-integrated commercial EV supplier with a fleet focus.
• Xos Trucks: US-based manufacturer of electric medium- and heavy-duty commercial vehicles targeted at last-mile delivery and fleet customers. Competes in the same commercial fleet electrification category as Shift EV.
• Workhorse Group: US-based manufacturer of electric delivery vans and drones serving last-mile and commercial fleet customers. Comparable target customers and use cases in commercial EV fleet deployment.
• Arrival: UK-based electric commercial vehicle OEM producing vans and buses for fleet customers. Direct peer in purpose-built commercial EVs targeting similar fleet operator use cases.
• Orange EV: US-based manufacturer of electric terminal trucks (yard hostlers) for fleet customers. Comparable in serving commercial fleet operators with purpose-built, duty-cycle-specific electric vehicles.
• Volta Trucks: European manufacturer of purpose-built electric commercial vehicles (16t trucks) for urban logistics fleets. Comparable in the fleet electrification value proposition though focused on new vehicle production rather than retrofit.
• GreenPower Motor Company: Canada-based manufacturer of electric buses, trucks, and vans for commercial and transit fleets. Comparable in serving fleet customers with purpose-built commercial EVs across multiple vehicle classes.

Emerging players

• BasiGo: Kenya-based electric mobility company focused on electric buses and matatus in East Africa. Closest emerging-market peer to Shift EV's Africa commercial fleet electrification mission, though focused on passenger transit.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/shift-ev
• Xx.com/ShiftEVs

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds3 records

Investors4 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Shift EV