Macquarie Group introduces a $1.5 billion electric vehicle (EV) fleet solutions platform in India

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Macquarie Group introduces a $1.5 billion electric vehicle (EV) fleet solutions platform in India

Team FS

23/Apr/2024

Key Points:

Macquarie's Bold Move: Macquarie Group launches Vertelo, a pioneering platform aimed at driving electric vehicle (EV) adoption in India, with plans to invest $1.5 billion over the next decade.
Green Innovation: Vertelo receives a significant anchor investment of $200 million from the UN's Green Climate Fund, signaling global support for India's transition to electric mobility.
Comprehensive Solutions: Vertelo offers a holistic approach to EV adoption, including leasing, financing, charging infrastructure, fleet management, and partnerships with leading manufacturers like JBM Auto Ltd. and Tata Motors Ltd.

In a bold move to spearhead India's electric mobility revolution, Macquarie Group Ltd. introduces Vertelo, a pioneering platform dedicated to accelerating the adoption of electric vehicles (EVs) across the country. With a monumental commitment of $1.5 billion slated for investment over the next decade, Vertelo sets the stage for transformative change in India's transportation landscape.

Global Support: Green Climate Fund Backing
Vertelo receives a resounding vote of confidence from the global community with a significant anchor investment of $200 million from the UN's Green Climate Fund. This infusion of capital not only validates Vertelo's mission but also underscores the urgency and importance of India's transition to sustainable transportation solutions.

Holistic Solutions: Addressing Key Challenges
Vertelo's comprehensive approach to EV adoption tackles the primary barriers hindering widespread acceptance. From offering leasing and financing options to providing captive charging infrastructure, fleet management services, insurance, and end-of-vehicle management solutions, Vertelo aims to streamline the transition to electric mobility for businesses across India.

Strategic Partnerships: Driving Progress
Vertelo wastes no time in forging strategic alliances with industry leaders. Agreements with prominent manufacturers like JBM Auto Ltd. and Tata Motors Ltd. pave the way for the acquisition of up to 2,000 electric buses each, demonstrating Vertelo's commitment to facilitating fleet electrification for commercial operators.

Urban Mobility Solutions: Mumbai Initiative
In a proactive move to address urban mobility challenges, Vertelo partners with Chalo Mobility Pvt. to deploy electric buses in Mumbai. This initiative underscores Vertelo's commitment to driving positive change in major cities and signifies a step towards sustainable urban transportation solutions.

CEO's Vision: A Comprehensive Ecosystem
Sandeep Gambhir, Chief Executive of Vertelo, envisions the platform as a comprehensive solution provider, catering to the entire lifecycle of electric vehicles. By fostering collaboration with original equipment manufacturers (OEMs), fleet operators, and corporates, Vertelo aims to accelerate EV adoption across India and become a prominent player in the EV mobility landscape.

Conclusion: Shaping the Future
As India embarks on a transformative journey towards sustainable transportation, Vertelo emerges as a beacon of innovation and progress. With its bold vision, strategic partnerships, and unwavering commitment to environmental sustainability, Vertelo is poised to shape the future of mobility in India and beyond, ushering in an era of cleaner, greener transportation for generations to come.

Also Read : JNK India's IPO begins April 23, with institutional investors raising Rs 195 cr in the anchor book

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Macquarie Group introduces a $1.5 billion electric vehicle (EV) fleet solutions platform in India

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