Macquarie Launches Fleet Electrification Platform

Mumbai, Apr 22 (PTI) Macquarie Asset Management on Monday announced the launch of a fleet electrification solutions platform, which will mobilise USD 1.5 billion over 10 years and accelerate electric vehicle adoption in the country.

The new platform, Vertelo, has received anchor investment from Green Climate Fund (GCF) which has committed an investment of up to USD 200 million, Macquarie Asset Management said in a statement.

Vertelo plans to mobilise USD 1.5 billion over 10 years in the domestic e-mobility ecosystem, it said.

The new business will be led by Sandeep Gambhir who previously led the automotive leasing, mobility, and non-bank financial businesses for ORIX India for 11 years.

Macquarie Asset Management, which is a part of the Macquarie Group, aims to accelerate the transition of fleets to electric vehicles and build a robust EV ecosystem by offering bespoke solutions to customers.

Macquarie will offer leasing and financing, charging infrastructure and energy solutions, fleet management services, and end of vehicle life management, it said.

The transition to electric vehicles will bring significant benefits to India increasing its energy independence and mitigating the impacts of climate change, said Abhishek Poddar, India Country Head, Macquarie Group.

Henry Gonzalez, Green Climate Fund Deputy Executive Director, said, "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 USD 200 million equity capital to support India's e-mobility transition.