Macquarie Asset Management (MAM), part of Macquarie Group, has launched Vertelo, a new platform providing end-to-end solutions in fleet electrification in India.
The company aims to accelerate the transition of fleets to electric vehicles and build a robust EV ecosystem by offering bespoke solutions to customers including leasing and financing, charging infrastructure and energy solutions, fleet management services, and end-of-vehicle life management.
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Abhishek Poddar, India Country Head, Macquarie Group, said: “The transition to electric vehicles will bring significant benefits to India – increasing its energy independence and mitigating the impacts of climate change. Vertelo aims to play a key role in accelerating this transition by making it easy for its customers to realise the benefits of going electric immediately.”
The new platform has received anchor investment from the Green Climate Fund which has committed to invest up to $US200 million. Overall, Vertelo plans to invest $US1.5 billion over 10 years to achieve a potential greenhouse gas emissions reduction of ~9.5 MtCO2e.2
Henry Gonzalez, Green Climate Fund Deputy Executive Director, said: “The platform launched today is a big moment for all involved. It has been designed to speed up the adoption of electric vehicles – buses and commercial fleets – by providing affordable leasing and financing solutions. This will help bring costs down, so electric vehicles can be truly competitive, and people can breathe cleaner, safer air across the country. This investment is the Green Climate Fund’s first private-sector transport programme in the e-mobility sector, and we are excited to have provided $US200 million equity capital to support India’s e-mobility transition.”
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Sandeep Gambhir, who oversaw ORIX India’s nonbank finance, mobility, and auto leasing divisions for 11 years, will spearhead the new venture.
Sandeep Gambhir, Chief Executive Officer, Vertelo, said: “Vertelo aims to become a larger ecosystem player in the EV mobility landscape through its unique and comprehensive offering that covers the entire lifecycle of the underlying assets including upfront capital solution, charging infrastructure, maintenance and energy management, which helps it to partner with large OEMs, fleet operators, and other corporates, and accelerate fleet electrification in India.”
The Green Climate Fund, in collaboration with Macquarie Asset Management, a division of Macquarie Group, is supporting Vertelo. Among the top 10 corporations in Australia, Macquarie Group has operated in India for more than 19 years and has contributed more than $US2.5 billion in equity capital to the development of Indian infrastructure.
About Vertelo
Vertelo is helping to redefine transportation for a more sustainable India. Its expertise spans the e-mobility ecosystem and fleet electrification solutions aim to help accelerate India’s low carbon transition.
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