Macquarie Asset Management (MAM) announced the introduction of Vertelo, a platform that offers comprehensive fleet electrification solutions, along with a pledge to invest $1.5 billion in India over a ten-year period.
By providing leasing, finance, fleet management services, end-of-vehicle life management, and charging infrastructure, the company hopes to hasten the shift of fleets to electric vehicles and create an ecosystem.
With a $13.9 billion portfolio, Green Climate Fund is the largest dedicated climate fund in the world. It has invested $200 million as an anchor in Vertelo. MAM will add another $200 million to its investment.
There will be 2,000 electric cars and 6,000–7,000 electric buses on the platform. Chalo Mobility, a company in transportation technology, and Vertelo have inked a long-term leasing arrangement for the supply of 44 electric buses.
In addition, it has contracts in place with JBM and Eka Mobility to purchase up to 2,000 electric buses from each company over a period of three to five years. Over the next three years, Tata Motors plans to offer up to 2,000 electric vehicles.
The company aims to set up a non-banking finance company, for which it will apply for a licence with the RBI, senior officials said at a press event held in Mumbai on Monday. Abhishek Poddar, India country head, Macquarie Group, said, “The transition to EVs will bring significant benefits to India, increasing its energy independence and mitigating the impacts of climate change.”
