MG Motor India signs MoU with Vertelo
The fleet electrification platform Vertelo was first launched by the Australian investment bank Macquarie which set out to invest about 1.5 billion US dollars over a period of ten years in the development of electric vehiclte fleets in India. To administer the proceedings, the bank set up Vertelo, initially to “provide end-to-end solutions for fleet electrification in India, including leasing and financing, charging infrastructure and energy solutions, fleet management services and end-of-life vehicle management.”
Now Vertelo is taking its first major steps to establish itself as a fleet operator, with MG Motor set to deliver 3,000 electric vehicles over multiple phases. According to a LinkedIn post, “This partnership aims to not only provide eco-friendly rides but also build a strong EV charging network across India.”
“This partnership with MG Motor India to purchase around 3,000 electric cars, marks the beginning of a journey for both organisations with a common goal of accelerating fleet electrification and achieving Net-zero emissions,” said Sangeep Gambhir, CEO of Vertelo.
Interestingly enough, India seems to be becoming a hotbed for EV fleet operators, as BluSmart just announced plans to triple its fleet size, as well as expand its business abroad, after making a similar announcement just a few months prior. Companies such as Tata Motors and JLR are also building up production capacities in India, also in part due to the governments efforts to attract manufacturers. Tata is not stopping with simply building electric vehicles, but is also in the process of setting up a charging grid.
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