Electric vehicle company BossCap has been placed into receivership, suspending all its operations and leaving more than 100 jobs at risk.

The Brisbane-based company said the collapse was out of its control, following the appointment of receivers on Tuesday, while 13 BossCap Group subsidiaries were placed under voluntary liquidation.

‘A sudden change in global production strategy from Ford materially impacted the availability of the underlying platform the business relied on,’ the company said in a statement. 

‘This decision, which was outside BossCap’s control, removed the foundation of future supply and significantly disrupted the company’s forward pipeline, despite strong market interest and growing sales momentum.’

Bosscap voluntary administrator and liquidator to all its subsidiaries Declan Lane of Helios Advisory told Yahoo Finance it looked unlikely for the company to ‘continue trading after an orderly wind down by the receivers’.

Mark Holland and Anthony Connelly of McGrathNicol, appointed receivers and managers of the parent company BossCap, are currently assessing the business.

Mr Holland said receivers were undertaking ‘urgent appraisal of operations and electric vehicle sales’ and would provide information to customers and stakeholders soon.

BossCap was responsible for producing Australia’s first right-hand-drive electric fleet ute, introducing the Ford F-150 Lightning to the local market. 

The company began as a vehicle import company in 2012 before expanding into engineering and manufacturing.

In recent years, it modified Tesla’s Model Y for mining use, produced the country’s first fully electric 4×4 mining ute and partnered with Hyundai Motor Company Australia to adjust its XCIENT Fuel Cell hydrogen trucks to meet road and regulatory standards.