---
title: "Ikea Invests in Hybrid Fleet-Vehicle Company XL Hybrids"
description: "Hybrid trucks could be perfect for hauling flat-pack furniture."
date: "2017-10-16"
modified: "2017-10-16"
authors:
  - name: "Stephen Edelstein"
    job_title: "Weekend Editor"
    link: "https://www.thedrive.com/authors/stephen-edelstein"
url: "https://www.thedrive.com/tech/15167/ikea-invests-in-hybrid-fleet-vehicle-company-xl-hybrids"
categories:
  - "News"
tags:
  - "Commercial Vehicles"
  - "fleet vehicles"
  - "hybrid"
  - "hybrids"
  - "pickup trucks"
  - "PLug-in hybrid"
  - "Tech"
---

# Ikea Invests in Hybrid Fleet-Vehicle Company XL Hybrids

![](<https://www.thedrive.com/wp-content/uploads/images-by-url-td/content/2017/10/bg-xlp.jpg>)
*\<em\>www.thedrive.com</em>*

In the absence of widely-available electrified pickup trucks and commercial vehicles, [XL Hybrids has found a niche](<https://www.thedrive.com/article/6579/drive-wire-for-december-19th-2016-xl-hybrids-brings-efficiency-to-large-fleets>) converting existing vehicles into hybrids and plug-in hybrids.

The Boston-based company just secured $22 million in Series D capital funding, with Ikea contributing an undisclosed amount. The major investor in this funding round was Constellation Technology Ventures, the venture capital arm of Exelon Corporation. The investment is a significant vote of confidence for XL Hybrids from a major corporation.

XL Hybrids specializes in converting or "upfitting" new vehicles for fleet buyers. It currently offers hybrid and plug-in hybrid conversions for a variety of vehicle, including Ford F-150 and F-250 pickups, Ford Transit and Chevrolet Express/GMC Savana vans, shuttle buses, and box trucks.

The upfitting process essentially involves adding an electric motor and lithium-ion battery pack to a vehicle's existing powertrain. XL Hybrids claims this can improve fuel efficiency by up to 25 percent.

While the Ikea investment doesn't necessarily mean the Swedish furniture giant will automatically commission a fleet of XL Hybrids trucks, the company's hybrids seem like ideal tools for hauling around Ikea products. XL Hybrids already counts Coca-Cola and San Diego Gas & Electric among its customers.

Electrifying fleet vehicles could have a major impact on carbon emissions, since those vehicles rack up substantially more mileage than the average passenger car. But XL Hybrids may soon face stiffer competition in the form of [Ford's promised hybrid F-150](<https://www.thedrive.com/article/6789/ford-withdraws-from-mexico-will-build-hybrid-f-150-and-mustang>), and a host of electric commercial vehicles from the likes of [Daimler](<https://www.thedrive.com/tech/12332/mercedes-benz-will-build-electric-sprinter-vans-in-germany>) and [startup Chanje](<https://www.thedrive.com/tech/13359/little-known-ev-startup-chanje-promises-electric-commercial-van-deliveries-by-end-of-2017>).

## Author
Stephen has always been passionate about cars, and managed to turn that passion into a career as a freelance automotive journalist. When he's not handling weekend coverage for The Drive, you can find him looking for a new book to read.

### Author social links  
[Twitter](<https://twitter.com/SAEdelstein>)