QEV Technologies

What QEV Technologies does

QEV Technologies is a Barcelona-based electric mobility company that designs, develops, and manufactures electric vehicles and powertrains, anchored by a "From Race to Road" technology transfer philosophy. The company operates four business units: QEV Mobility (commercializing the ZEROID brand of vans, buses, chassis, and hydrogen/electric platforms for urban fleets), QEV Engineering (electric vehicle R&D and prototyping services for OEMs), QEV Motorsport (operation of electric racing teams and championships including Formula E, Extreme E, RX2e, and Nitrocross, with two Formula E world titles to its credit), and QEV Academy (60 ECTS Master's and Specialization programs in Motorsport & e-Racing delivered with UVic-UCC at EUR 9,484–10,244 per program).

The core technology stack spans electric powertrain development, battery systems integration, vehicle dynamics engineering, and proprietary motor control algorithms such as Advanced Flux Linkage Vector Decomposition Control for Surface Mount Permanent Magnet Synchronous Motors. QEV is currently building the D-Hub (Decarbonization Hub) in Barcelona's Zona Franca together with partner Btech, a reindustrialization of the former Nissan facilities with EUR 800M of total planned investment and capacity of up to 180,000 vehicles per year. The listed entity QEV (Euronext Amsterdam: QEV) was created in October 2023 through a SPAC merger with SPEAR Investments I at a EUR 221M market capitalization, with QEV Technologies S.L. as its wholly-owned operating subsidiary.

QEV's commercial model blends hardware sales (ZEROID vehicles, manufactured at D-Hub and contracted under licenses such as EBRO), professional services (engineering contracts with Andretti, Mahindra Racing, Hispano Suiza, and Arcfox), motorsport sponsorship and prize money, and tuition-based education. Customer segments include urban fleet operators (e.g., Grupo Bimbo's 1,500-van order for Mexico), public transport operators (e.g., Tekaydinlar for the SAMBUS 100 bus), and automotive OEMs. The go-to-market is sales-led enterprise, leveraging motorsport visibility and industry trade shows (BUSWORLD, Automobile BCN) as primary demand-generation channels.

Name

QEV Technologies

Legal name

QEV TECHNOLOGIES S.L.

Website

https://qevtech.com

Company type

Public

Founded year

2004

Operating status

Ipo

Headcount range

51–100 employees

Short description

QEV Technologies is a Barcelona-based electric mobility company that develops and manufactures ZEROID electric vehicles (vans, buses, chassis) for urban fleets, provides EV engineering services to OEMs, and operates electric motorsport teams, with manufacturing capacity scaling through the D-Hub joint venture.

Ownership category

akta.pro rank

Product category

Electric Vehicles

NAICS

Motor Vehicle Electrical and Electronic Equipment Manufacturing (336320), Motor Vehicle Transmission and Power Train Parts Manufacturing (33635)

SIC

Electronic & Other Electrical Equipment (No Computer Equip) (3600), Electronic Components & Accessories (3670)

akta.pro primary industry

Electric Drive Unit / E-Axle Manufacturing (Motors/Inverters/Gearboxes) (IMACACAC)

akta.pro secondary industry

Hydrogen Fuel Cell Electric Vehicle (FCEV) Manufacturing (IMACACAJ)

Keywords

• Electric vehicle manufacturing
• Electric powertrain development
• Commercial fleet electrification
• Electric motorsport racing
• Automotive engineering services

Headquarters

HQ city

Montmeló

HQ country

Spain

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

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

Revenue model

1. Electric Vehicle Manufacturing and Sales: Manufacturing and sale of electric vehicles under the ZEROID brand, including vans, buses, and electric platforms for urban fleets and commercial transport. Production at D-Hub facility in Barcelona Zona Franca.
2. Engineering and R&D Services: Custom electric vehicle development services for automotive companies, from concept to prototype to production. Includes support for Formula E teams (Andretti Avalanche FE Team, Mahindra Racing) and other OEMs.
3. Education and Training: QEV Academy offers Master in Motorsport & e-Racing and Specialization Course in Motorsport & e-Racing, with titles issued by UVic - UCC and QEV Technologies. 60 ECTS programs, approximately 10,000 EUR per program.
4. Motorsport Operations: Operation of electric motorsport teams including ACCIONA | SAINZ XE Team in Extreme E and involvement in Formula E, RX2e championships. Revenue from sponsorship and prize money.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core offering

QEV Technologies designs, develops, and manufactures electric vehicles and electric powertrain technology, transferring technology from elite motorsport competition to commercial urban transport. The company sells the ZEROID brand of electric vans, buses, and modular platforms to fleet operators, provides EV engineering services to automotive OEMs, operates electric motorsport teams in Formula E, Extreme E, RX2e, and Nitrocross, and delivers motorsport engineering education through QEV Academy.

Product overview

QEV Technologies is an electric mobility company offering a portfolio of electric vehicles, engineering services, and motorsport operations. The core product is ZEROID, a sub-brand providing sustainable electric vehicles including vans, buses, chassis, and hydrogen/electric platforms for urban fleets. Supporting this are electric racing vehicles (ZEROID X1, FC1-X) and engineering/prototyping services. The company also operates QEV Academy for motorsport education and QEV Motorsport for racing team participation across multiple FIA electric championships.

Differentiator

Problem solved

Functional benefit

Brands

• ZEROID: Electric vehicle brand offering sustainable vehicles and platforms for urban fleets including vans, cargo vehicles, buses, and hydrogen/electric platforms for heavy trucks. Operates passenger vehicles, cargo vehicles, and incomplete vehicles categories.
• QEV Mobility
• QEV Academy
• QEV Motorsport
• QEV Engineering
• D-Hub

Products and services

• ZEROID X1 (electric rallycross racing car) Electric rallycross racing car developed by QEV Technologies for the FIA RX2e Championship and World RX, generating over 270 kW (362 HP) and up to 510 Nm of torque with all-wheel drive.
• FC1-X (electric Nitrocross vehicle) Electric vehicle built for Nitrocross competition by QEV Technologies and described as the most powerful rallycross vehicle ever built.
• eShuttle electric microbus 20-passenger electric microbus developed with Car-Bus.net, offering 120 or 140 kWh battery options, 265–310 km range (SORT3 cycle), 20–80% charging in under 1 hour, and optional wheelchair accessibility.
• SAMBUS 100 electric city bus 100% electric city bus developed through the ZEROID and Tekaydinlar strategic alliance, designed for real-world duty cycles with a lower total cost of ownership for transit operators.
• QEV Engineering (R&D and prototyping services) R&D service developing electric vehicle prototypes and small-scale production for sustainable mobility, taking customers from concept through finished product.
• QEV Academy (Master and Specialization in Motorsport & e-Racing) Educational institution training engineers and mechanics for the electric motorsport industry; offers a Master in Motorsport & e-Racing (EUR 10,244) and a Specialization Course (EUR 9,484), each 60 ECTS and jointly issued with UVic-UCC.
• QEV Motorsport (racing team operations) Racing team operations spanning FIA RX2e Championship, Extreme E, Nitrocross, GSeries-E, Formula E, and Race of Champions, with technology validated in these series transferred to commercial vehicles.
• ZEROID commercial electric vehicle range QEV Technologies' commercial e-mobility sub-brand offering sustainable electric vehicles and platforms for urban fleets, including passenger vans, cargo vehicles, electric buses, and incomplete/chassis vehicles adaptable to different routes, climates, and operational needs.

Named customers8 records

Segments5 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Eleven partnerships are on record, tiered core, major and minor.

• TekaydinlarcoreStrategic or Co-development Partner · 7 October 2025Strategic alliance to design, develop, and commercialize 100% electric buses. First joint product is the SAMBUS 100 electric city bus unveiled at BUSWORLD Brussels 2025. Combines ZEROID's electric powertrain expertise with Tekaydinlar's manufacturing capacity.
• Formula GmajorStrategic or Co-development Partner · 23 November 2023Technical partnership where QEV Technologies leads all technological development including powertrain and battery development for the new Formula G electric motorsport championship. QEV Technologies developed the championship concept as the missing junior category for electric racing.
• BtechcoreStrategic or Co-development Partner · 13 March 2023Joint leadership of D-Hub (Decarbonization Hub) in Barcelona Zona Franca for reindustrialization of former Nissan facilities. QEV Technologies and Btech signed agreement with Goodman for land development. D-Hub aims to produce 60,000+ electric vehicles annually.
• GoodmancoreStrategic or Co-development Partner · 13 March 2023Real estate partner for D-Hub development in Barcelona Zona Franca. Provides logistics and industrial property expertise for the reindustrialization project.
• ACCIONA | Sainz XE TeamcoreStrategic or Co-development PartnerQEV Technologies serves as technical partner and operator of the ACCIONA | Sainz XE Team in Extreme E championship. The team competes with drivers including Carlos Sainz Sr., Laia Sanz, and Fraser McConnell.
• Andretti Avalanche FE TeamcoreTechnology or IntegrationQEV Technologies provides software development and energy management strategy support for Andretti in Formula E since 2021. Active in all Formula E races from Season 1.
• Mahindra RacingcoreTechnology or IntegrationTechnical and racing support partner for Mahindra Racing in Formula E from Season 2 (2015) through 2021. Contract extended for four seasons in January 2018. Also collaborated on M5Electro development.
• Car-Bus.netmajorStrategic or Co-development PartnerCollaboration on eShuttle minibus development - Car-Bus.net performed the bus body conversion while QEV Technologies provided electric powertrain technology. eShuttle won Microbus of the Year in Spain 2024.
• Grupo BimbomajorOthersMajor fleet customer ordering 1,500 electric vans for merchandise delivery in Mexico. Vehicles currently in production and will continue at D-Hub when operational.
• UVic - Universidad Central de Catalunya (UCC)majorStrategic or Co-development PartnerUniversity partner for QEV Academy educational programs. Titles (Master and Specialization in Motorsport & e-Racing) are jointly issued by UVic-UCC and QEV Technologies. 60 ECTS programs.
• Circuit de Barcelona-CatalunyaminorStrategic or Co-development PartnerSupport institution for QEV Academy located adjacent to the circuit in Montmeló. Provides practical training facilities.

Scale indicators11 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Arrival: UK-based electric vehicle startup developing electric vans, buses, and purpose-built vehicle platforms for urban fleets. Closely comparable to QEV's ZEROID business in target customer (fleet operators), product category (commercial EVs), and small-to-mid-cap public-company profile with similar scale-up challenges.
• Canoo: US-based EV startup with modular skateboard platforms targeting commercial fleets, last-mile delivery, and specialty vehicles. Comparable to QEV's platform-based approach for urban fleets and similar small-cap EV manufacturer profile.
• Rivian: US-based electric vehicle manufacturer producing commercial delivery vans (EDV for Amazon) and consumer pickup/SUV. Comparable in commercial EV focus and in building platform-based electric powertrains, though at significantly larger scale.
• B-ON (formerly StreetScooter): European manufacturer of electric light commercial vehicles for last-mile delivery, originally developed for Deutsche Post DHL. Highly comparable to QEV's ZEROID van business in target use case (urban delivery fleets), geography (Europe), and product category.
• Volta Trucks: European startup developing fully electric commercial vehicles (16-18 tonne trucks) for urban logistics, with a focus on fleet operators. Comparable to QEV's commercial EV focus and similar small/mid-cap European EV profile.
• Hispano Suiza: Spanish hyperluxury electric vehicle manufacturer (Carmen, Carmen Boulogne) and QEV vehicle development partner. Comparable as a Spanish-headquartered EV manufacturer working with QEV on engineering and as a peer in the Iberian EV ecosystem.
• Pininfarina: Italian automotive design and now electric hypercar manufacturer (Pininfarina Battista) leveraging motorsport-derived design and engineering expertise. Comparable to QEV in combining motorsport heritage, premium EV manufacturing, and engineering services for automotive OEMs.

Emerging players

• Williams Advanced Engineering: Subsidiary of Williams F1 that commercializes Formula 1-derived battery, powertrain, and lightweighting technology into automotive, motorsport, and aerospace applications. Directly comparable to QEV Engineering's 'Race to Road' technology transfer model and Formula E heritage.
• McLaren Applied Technologies: Commercializes motorsport-derived technology in electrification, telemetry, and composites for automotive and industrial customers. Comparable to QEV in leveraging high-performance racing heritage to win commercial engineering contracts and product business.
• Prodrive: UK motorsport and advanced engineering services company developing high-performance vehicles and powertrain technology for racing and road applications. Comparable to QEV Engineering in combining motorsport engineering services with selective commercial vehicle development.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/QEV_Tech
• YouTubeyoutube.com/@QEVTECHNOLOGIES
• Facebookfacebook.com/QEVTech
• LinkedInlinkedin.com/company/qev-technologies
• Instagraminstagram.com/qev_tech
• TikToktiktok.com/@qev_tech

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries1 record

Funding overview

Funding rounds1 record

Investors1 record

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 QEV Technologies