Tevva Motors has filed a notice to appoint administrators as it seeks to secure investment.
The move follows a failed deal with US-based vehicle manufacturer ElectraMeccanica.
Tevva has since re-engaged with a number of investors and public companies looking for a merger.
A statement issued by the company said: "Despite positive customer interest in Tevva and its products, current global economic conditions have created a challenging environment for electric vehicle startups.
"As a consequence, we have filed notice of intent to enter administration with the court while the board is pursuing investment that secures the future of the company."
Production of the company's 7.5-tonne electric trucks started last year, at its plant in Tilbury, Essex. Tevva has agreements in place with Royal Mail and Travis Perkins to trial the vehicle.
The electric truck has a range of 140 miles and is set to be joined by a version fitted with a hydrogen fuel cell.
Electric commercial vehicle manufacturer Arrival entered administration in February, having failed to launch its debut electric van.
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Matt has been an automotive journalist for eight years. As senior staff writer he is responsible for the automotive content on Fleet News and also contributes to Automotive Management. Prior to this, Matt worked in the automotive industry for 10 years.
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