Clean motion
ListFirst North
Market cap149million SEK
Share price2.20 SEK at time of publication
Market Size$24,5 billion by 2023
IndustryElectric last mile delivery

ESGFIRE comment:

ESGFIRE is thrilled to share some groundbreaking news about our largest stock position, Clean Motion. Today marks a significant milestone in our journey towards a sustainable future. Clean Motion’s solar-powered vehicle, EVIG, has achieved type approval for the European market. This achievement not only solidifies Clean Motion’s position as a leader in the clean tech industry but also reinforces our commitment to investing in sustainable, environmentally-friendly technologies.

A Major Step Forward

Clean Motion’s EVIG has received the type approval certificate, which means it is now approved for road traffic in all 27 EU member states, as well as Switzerland and Norway. This approval is a testament to the rigorous standards that Clean Motion adheres to in the development of their vehicles. It also opens up vast new markets for the company, paving the way for extensive sales and delivery opportunities across Europe.

The Importance of Type Approval

Type approval is a critical step for any vehicle manufacturer. It ensures that a vehicle meets the stringent safety and environmental standards required for road use. For Clean Motion, achieving this certification for EVIG means that they can now sell and deliver their innovative solar-powered vehicles throughout Europe. This not only enhances the company’s market reach but also contributes significantly to reducing carbon emissions and promoting sustainable transportation solutions.

What This Means for Investors

For ESGFIRE and our investors, this development is incredibly positive. Clean Motion’s ability to enter the European market with a fully certified vehicle is expected to drive significant growth and increase the company’s revenue potential. The approval also demonstrates the company’s technical prowess and commitment to sustainability, which are key factors we consider in our investment strategy.

A Message from Clean Motion’s CEO

Ulf Rask, CEO of Clean Motion, expressed his excitement about this milestone, stating, “It’s great that this entire process is finally completed, allowing us to start delivering vehicles. Our priority is to begin deliveries to customers with significant potential so that we can quickly establish a strong pipeline.”

The Road Ahead

With the type approval in place, Clean Motion is well-positioned to expand its footprint across Europe. The company’s focus on producing sustainable, solar-powered vehicles aligns perfectly with the growing demand for eco-friendly transportation options. This approval not only boosts investor confidence but also sets the stage for Clean Motion to become a major player in the European automotive market.

ESGFIRE’s Commitment to Clean Tech

At ESGFIRE, our investment philosophy centers on supporting companies that are at the forefront of environmental, social, and governance (ESG) criteria. Clean Motion’s achievement is a prime example of the type of innovation and leadership we seek in our portfolio companies. By investing in Clean Motion, we are not only supporting a promising business but also contributing to the broader goal of reducing global carbon emissions and promoting sustainable living.

Reiterating ESGFIRE’s Analysis

Our in-depth analysis at ESGFIRE highlights Clean Motion as a hidden gem in the electric vehicle market. With a focus on last-mile delivery solutions, EVIG’s unique solar roof design extends its range and reduces grid dependency, making it a standout in urban logistics. This innovation positions Clean Motion to capture significant market share in the rapidly growing EV sector, especially with the expected market valuation of 132 billion USD for last-mile delivery vehicles by 2022. Our bull case scenario predicts a potential stock price increase to 5.4 SEK in 2024, reflecting the company’s robust growth trajectory.

Key Milestones Recently Achieved by Clean Motion

1. **Type Approval**: Enables commencement of production and delivery dates for European customers.
2. **New Production Facility**: Boosts manufacturing capacity to 3,000 vehicles annually.
3. **Strategic Partnerships**: Licensing agreement in India with significant investment.
4. **Positive Financials**: First positive operating result before depreciation in Q4 2023.


Today’s announcement is a win for Clean Motion.  It underscores the importance of investing in sustainable technologies and the potential for these investments to deliver substantial returns. As Clean Motion embarks on this new chapter, we are confident that they will continue to lead the way in creating a greener, more sustainable future.

We look forward to seeing the positive impact that EVIG and Clean Motion will have on the European market and are excited about the growth prospects this approval brings. ESGFIRE remains committed to supporting Clean Motion and other companies that are making significant strides in sustainability and innovation.

Thank you for your continued support and trust in ESGFIRE. Let’s continue to invest in a brighter, cleaner future.



ESGFIRE is an investment company and research firm that focuses on ESG companies with either an environmentally friendly service or product. ESGFIRE has a performance record of over 1000 % returns since 2018.

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