Applied Electric Vehicles Ltd announced that it has received AUD 57.8 million in funding from National Reconstruction Fund Corporation, Suzuki Motor Corporation, Japan Post Capital Co., Ltd., St Baker Energy Managers Pty. Ltd. and others

Applied Electric Vehicles Ltd announced that it has received AUD 57.8 million in a round of funding co-led by new investors National Reconstruction Fund Corporation and Barrenjoey on January 28, 2026. The transaction included participation from new investor Japan Post Capital Co., Ltd. and existing investors Suzuki Motor Corporation, St Baker Energy Managers Pty. Ltd. and others.

The federal government?s National Reconstruction Fund (NRF) covered more than half the raise, kicking in $30.7 million. The company issued Convertible Preferred Stock in the transaction.