Janus Electric Holdings Ltd (ASX:JNS) has secured approximately A$45 million in conditional orders from four new California fleet operators, lifting its contracted North American order book to 112 diesel-to-electric truck conversions.
Golden State Express, WEHACO, Tradelink Transport and King Fio Trucking have ordered a combined 67 conversions, 77 swappable battery packs and four Janus Charge & Change Stations. The agreements expand Janus’ US customer base from one to five fleet operators.
The latest orders follow a separate A$10 million commitment from existing customer Ability Tri-Modal announced earlier this week.
Together, the agreements have increased Janus’ US order book from 20 to 87 conversions, alongside a further 25 contracted conversions in Canada.
California fleets adopt battery-swap platform
The four customers operate in California’s freight and port drayage sector, servicing the Ports of Los Angeles and Long Beach.
Golden State Express and WEHACO have each ordered 20 conversions and 22 battery packs, with the affiliated businesses to share a charging and battery-swap station. Each order has an estimated gross value of A$14 million.
Tradelink Transport has ordered 21 conversions, 25 battery packs and two stations for approximately A$14 million, while King Fio Trucking has committed to six conversions, eight battery packs and one station under an approximately A$3 million lease-to-own arrangement.
The agreements remain subject to conditions including the approval of relevant California incentive programs and, in King Fio’s case, the completion of proposed financing arrangements.
Incentives support conversion economics
California government support remains central to the commercial case for the projects.
Combined incentives available through the state’s Hybrid and Zero-Emission Truck and Bus Voucher Incentive Project and the Port of Los Angeles can provide around US$166,000 per qualifying truck, potentially reducing the net cost of a Janus conversion to near zero.
Additional grants may also be available to support batteries and charging infrastructure.
Production and delivery schedules will be finalised following incentive approvals, with the first deliveries expected to begin in the fourth quarter of 2026 and continue through 2027.