Billionaire-Backed Zenobe Expands Electric Truck Charging in California

Zenobe Energy acquires Revolv to scale up its U.S. heavy-duty truck electrification operations despite a slump in the overall market.

Apr. 1, 2026 at 10:21pm by Ben Kaplan

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Zenobe Energy, a clean technology company backed by major investment firms like KKR and Infracapital, has acquired San Francisco-based Revolv to expand its electric truck charging infrastructure in California. The move comes as U.S. sales of medium- and heavy-duty electric trucks have plummeted more than 50% since 2024 due to policy rollbacks by the Trump administration. However, Zenobe sees California as a 'bright spot' where local incentives are still in place to support the transition to electric commercial vehicles.

Why it matters

The acquisition signals long-term confidence in the electric truck market, even as the overall sector faces headwinds from unfavorable federal policies. Zenobe's expansion in California, a state with strong local support for zero-emission vehicles, could help sustain momentum for truck electrification in key regional markets.

The details

Zenobe Energy purchased Revolv, which operates 13 fleet charging facilities in California, for an undisclosed amount. The company also plans to pursue acquisition opportunities in other states like Illinois, New York, and Massachusetts as it aims to scale up its truck electrification operations in North America. Zenobe has already electrified school buses in several U.S. states and has raised over $3 billion in funding from investors since 2017.

  • Zenobe Energy announced the Revolv acquisition on April 1, 2026.
  • U.S. sales of medium- and heavy-duty electric trucks fell more than 50% between 2024 and 2025.

The players

Zenobe Energy

A clean technology company backed by major investment firms like KKR & Co., Infracapital, and Mubadala Investment Co. that offers fleet electrification and battery energy storage services in several countries, including the U.S., UK, Australia, and Canada.

Revolv

A San Francisco-based company that operates 13 fleet charging facilities in California, which Zenobe Energy has acquired.

Andreas Lips

The executive who leads Zenobe's electric vehicle business in North America.

Shreya Malik

The managing director at KKR, one of Zenobe's major investors.

Maynie Yang

A BNEF analyst specializing in clean transportation.

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What they’re saying

“'California is clearly the anchor. But overall, North America is our ambition.'”

— Andreas Lips, Head of Zenobe's EV business in North America

“'There is actual demand to electrify [trucks] and it is in very certain pockets. Focusing on those areas is the key to success.'”

— Shreya Malik, Managing Director, KKR

“'the US truck electrification has a bumpy road ahead.'”

— Maynie Yang, BNEF Analyst

What’s next

Zenobe plans to serve medium and heavy-duty freight trucks that run on set delivery routes, which allows the company to better utilize its EV charging infrastructure. The company also has more projects underway that will add another 600 electric trucks into its service network in California, though a specific timeline was not provided.

The takeaway

Despite the overall slump in the U.S. electric truck market due to unfavorable federal policies, Zenobe's expansion in California shows there is still long-term confidence and demand for truck electrification, especially in regional markets with strong local support for zero-emission vehicles.