The collapse of Australian electric-car startup MEVCO has left a trail of unanswered questions and potential opportunities for those in the electric vehicle (EV) industry. MEVCO, which aimed to supply Australian mines with Rivian's electric R1T utes, has entered administration, owing millions of dollars. The company's assets include three HiLux utes and 13 R1Ts, along with four unnamed Rivian vehicles, at least one of which is believed to be a van. MEVCO had initially focused on electrifying HiLux and LandCruiser utes but shifted away from Toyotas in its final models. The fate of the vehicles is uncertain, as the Rivians remain left-hand drive and cannot be sold to the public for use on Australian roads. A liquidator has been appointed to process the company's assets and debts. MEVCO's clients included mining giant Fortescue, which trialed but ultimately did not proceed with the Rivian vehicles. Fortescue is listed as owing MEVCO $15,222.47, but a spokesperson denied this, stating that no MEVCO vehicles remain in their possession. The company's financial obligations extend beyond Fortescue, with entities like Kalgoorlie Consolidated Gold Mines and Mineral Resources Limited, and Exro Technologies owing MEVCO significant amounts. Additionally, 14 individuals and 50 entities are listed as creditors, owed over $13 million in total, while another $2.9 million is owed to four 'secured' creditors. Shaun Boyle from BRI Ferrier has been appointed as liquidator, and the company's future remains uncertain.
