MEVCO, a start-up that aimed to supply Australian mines with Rivian's electric R1T utes, has entered administration owing millions.
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A Perth start-up that hoped to supply Australia's mines with electric utes has entered administration, owing millions of dollars and with more than a dozen Rivian utes left on its list of assets.
In April 2024, it announced a deal with Rivian that would see MEVCO modify the R1T – produced exclusively in left-hand drive – to mining specifications, targeting mining operations in Australia and North America.
Documents lodged with the Australian Securities and Investments Commission (ASIC) show the firm entered administration on September 10, 2025, with three HiLux utes and 13 R1Ts in the company's assets.
The paperwork lists a further four unnamed Rivian vehicles, at least one of which is believed to be a van.
Written comments by MEVCO representatives to Drive in 2024 suggested the company had "received delivery of hundreds of vehicles from Rivian for deployment in Nth America and Australia.”
MEVCO had initially focused on the electrification of HiLux and LandCruiser utes, but appeared to move away from Toyotas in its final models, with CEO Matt Cahir telling Power Progress magazine in January 2025 that "the market for upfitted machines has matured and no mine wants a product that's not supported by the OEM [car manufacturer]."
It’s possible that the three HiLux vehicles owned by MEVCO were electric-converted variants.
The fate of the vehicles is unclear, given the Rivians remain left-hand drive, so they cannot be sold to the public to be driven on Australian roads. A liquidator has been appointed to process the company's assets and debts.
The notice that MEVCO Mining Australia Pty Ltd has been placed into liquidation was published by ASIC on September 10, though the scanning and uploading of documents to the government entity is poor quality and does not show all information.
Among the clients of MEVCO listed in the documents is mining giant Fortescue, one of the world's largest producers of iron ore, which told Drive it trialled, but ultimately did not proceed with the Rivian vehicles.
"Fortescue engaged MEVCO to trial three Rivian R1T vehicles for operational assessment within our Pilbara mining operations over a six-month period in 2025," a Fortescue spokesperson told Drive.
"Following performance testing, Fortescue determined not to proceed with further deployment of the vehicles," said the spokesperson.
The documents show MEVCO is owed $7,126,176.39, of which more than $7.08 million is attributed to a single entity, the name of which is obscured in the paperwork, with only 'co USA' visible.
Mining companies Kalgoorlie Consolidated Gold Mines and Mineral Resources Limited are described as owing $1438.64 and $1350 to MEVCO, respectively. Both declined to comment on their business relationship with MEVCO or the purported debts.
Fortescue is also listed as owing $15,222.47, however a spokesperson told Drive this is not correct: "Fortescue has no outstanding payments to MEVCO, and no MEVCO vehicles remain in our possession."
Also on the list is Exro Technologies, a company formed from a merger between it and SEA Electric, the Melbourne-based company responsible for converging MEVCO's planned HiLux and LandCruiser utes to electric power.
It is named as owing MEVCO $23,588.32. Exro Technologies did not respond to questions from Drive.
While MEVCO is reportedly owed funds by only these five entities, the list of companies and individuals it owes money to is far more extensive.
Fourteen individuals are owed $489,102.78, at least some of whom still describe themselves on LinkedIn as employees of MEVCO.
A further 50 entities are listed as creditors, owed over $13 million in total, while another $2.9 million is owed to four ‘secured’ creditors.
Shaun Boyle, from Perth-based firm BRI Ferrier, has been appointed as liquidator. Drive has reached out to BRI Ferrier and Matt Cahir for comment.
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Max is the News Publishing Coordinator for Drive. He enjoys creating engaging digital content, including videos, podcasts, interactive maps, and graphs. Prior to Drive, he studied at Monash University and gained experience working for various publications. He grew up playing Burnout 3: Takedown on the PS2 and was disappointed when real life car races didn’t have the same physics.
