The paper presents the first results from a newly started project with the aim of meeting the challenge of transforming industry and transport towards a sustainable future; the research project TREE - Transition to Efficient Electrified Forestry Transport. The project includes new actors and develops sustainable multi-business ecosystems that can continue to accelerate electrification after the initial knowledge- building and experimenting phase, where sustained value creation relies on developing each members' business model. Therefore, this paper explores and analyzes the challenges for actors' multi-business model development within a knowledge ecosystem in the pursuit of transforming heavy forestry transport. A workshop with all project partners has been conducted, and interviews have been performed with eight parties covering central actors in collaborative networks for creating a new system. The challenges for the creation and development of value-offering for actors in the studied evolving knowledge ecosystem for electrification of the forest industry include technical, economical, changes in roles and collaboration, logistics, and internal organizational challenges.