The US-Australian start-up Mining Electric Vehicle Company (MEVCO), which purchased several Rivian R1Ts for mining purposes last year, has gone bankrupt.
The company has declared it entered administration in early September, according to documents filed with the Australian Securities and Investments Commission (ASIC).
Four days earlier, the CEO Matt Cahir had published a listing in September selling his MEVCO-branded Rivian R1T for $75,000.
The files noted that the EV start-up had 13 Rivian pick-ups and three Toyota HiLux units in its possession.
There are four other Rivian units mentioned in the documents, although the exact model is not specified.
They are believed to be electric delivery vans, as units with the MEVCO branding have been previously spotted.
In 2024, when the deal with Rivian was announced, MEVCO told Australian media outlet Drive that it had “received delivery of hundreds of vehicles from Rivian for deployment in North America and Australia.”
EVs for Mining
The company operated in Australia, Canada, and the US, supplying mines with its dual-cab MEVCO EV, based on the Toyota HiLux.
Before the Rivian deal, MEVCO converted its fleet from combustion engines to electric, since Toyota did not offer a fully electric HiLux at the time.
Now, the Japanese company has raised competition with locally converted mining vehicles, with both electric versions of the HiLux and Land Cruiser 70 Series.
Unlike the legacy automaker, which also produces right-hand drive units as it has an established, global presence, Rivian only manufactures left-hand drive vehicles as of now.
The company, which aims to expand to new markets with the upcoming R2, is only officially present in North American markets.
According to EV Central, the Rivian R1Ts purchased by MEVCO were modified to include a bespoke roof bar, rollover sport bar, steel wire reinforced rear bulkhead, plus fire-suppression gear and handy built-in slide trays.
Second-hand MEVCO R1Ts
Over the past few months, several users on Rivian Forums have noticed Rivian R1Ts appearing for sale on the second-hand market.
Two months ago, a notable ad for a 2023 R1T Adventure pickup appeared on Facebook.
The listing was posted near Oakton, Virginia, by Matt Cahir — the CEO of MEVCO since its founding in 2022.
The vehicle was priced at $75,000 and the description said it had driven 18,735 miles. It further mentioned that “the vehicle is paid off.”
The ad has since been removed, and it is unclear whether the vehicle was sold.
In 2024, Cahir had stated that “the integration of Rivian‘s technology with MEVCO’s proven track record in mining-specific electric vehicles is poised to yield a fleet that exceeds the requirements of the most demanding operators.”
According to the executive, “the shift to electric solutions extends beyond environmental and financial advantages.”
It fostered a “safer, healthier environment for mine operators, particularly in subterranean settings where the elimination of tailpipe emissions is paramount.”
