HW Electro Co.

HW Electro Co., Ltd. is a Japan-based electric light commercial vehicle manufacturer founded in 2019 and headquartered in Tokyo. The company imports, modifies, and sells compact electric commercial vehicles under the “ELEMO” brand, including the ELEMO, ELEMO-K, and ELEMO-L models, through a manufacturing partnership with Cenntro Automotive in China. HW Electro is also developing its first original model, “PUZZLE,” set for launch in 2026, designed with enhanced connectivity and modular functionality for both commercial and recreational use. Financially, the company remains in its early growth phase, reporting approximately US $1.83 million in revenue and a net loss of about US $6 million for the fiscal year ended September 30, 2024, highlighting its reliance on a single manufacturing partner and the need for additional capital to support future expansion.