BrightDrop revenue on track to hit $1B in 2023

BrightDrop revenue on track to hit $1B in 2023

BrightDrop says it is on track to reach $1 billion in revenue in 2023, making it one of the fastest companies to ever hit that milestone. The company also confirmed that it is set to generate up to $10 billion in revenue and reach 20% profit margins by the end of the decade.

BrightDrop launched in 2021 with a suite of products targeting last-mile delivery and fulfillment, including the BrightDrop Zevo lineup of electric delivery vans, the BrightDrop Trace eCart, and the BrightDrop Core software suite.

The revenue news comes ahead of the company’s two-year anniversary and just 11 months after breaking the record for the fastest vehicle to market in GM’s history. BrightDrop says it has received over 25,000 reservations and letters of intent from companies including Walmart, Hertz, FedEx and Verizon. In September, the company unveiled Trace Grocery, an eCart designed to improve online grocery fulfillment, and announced Kroger as the first company slated to take delivery of the units.

From the Editor: Hot Take

Everything is coming up roses for BrightDrop. Today, it’s estimated that smaller fleets make up about 75% of the market, and there’s no question the last mile delivery segment will remain a focal point as the years fly by. The recent $2.5 billion loan offered to GM will do nothing but accelerate BrightDrop’s market presence as well. Oh, and while it may come across as a borderline joke – don’t sleep on that eCart. Faster, more automated grocery fulfillment is a huge initiative for grocers this decade, and there are a heck of a lot of Krogers out there.

You May Also Like

Michelin puts $300M into Canadian EV, sustainability endeavors

The investment will, in part, allow for the installation of new technologies needed for manufacturing EV tires.


Michelin has announced a $300 million investment into its Canadian operations to accelerate sustainable mobility and improve its environmental footprint. The investment will see the installation of new technologies and equipment in Michelin's three Nova Scotia production facilities to respond to market evolution, including manufacturing tires for the growing electric vehicle (EV) segment; larger rim size tires for passenger and light truck vehicles; and improved fuel efficiency for commercial trucks. In addition, the electrification of key parts of the manufacturing process will reduce carbon emissions at the plants, the company says.

Mullen to begin Class 3 EV production at Mississippi plant

Mullen has partnered with NRTC for assembly line installation, which includes robotics and automation systems.

Volvo Trucks starts hydrogen truck tests on public roads 

Volvo Trucks’ fuel cell electric trucks will be available in the second half of this decade.

Mitchell report highlights an increase in EV collision claims

Refinish time for EVs is nearly an hour more than for ICE automobiles, which adds to insurance claim costs.

Frito-Lay to deploy 700 electric delivery vehicles before 2024

Frito-Lay says zero- and near-zero-emission vehicles are a key step in achieving its net-zero emissions goal by 2040.


Other Posts

Autocar announces ‘Power Up’ program to finance electric fleets

The “Power Up” program is a vehicle financing solution that is designed to help customers grow their electric fleets.

GM, Samsung SDI to invest $3B in U.S. EV battery manufacturing

The companies say they plan to jointly operate the new facility, which will go live in 2026.

Ford EV maintenance and repair opportunities

The maintenance schedule of the Mach-E is built around 6- and 12-month inspections of components and fluids.

Genesis EVs are now for sale in 7 more states

The brand’s three-model EV lineup now available at select retailers in 22 states.