Australia’s Macquarie Group launched its electric vehicle (EV) financing and end-to-end solutions platform 'Vertelo' in India, which will invest $1.5 billion in electrifying fleets of buses and cars.

Banking & Finance

Australia’s Macquarie Group launched its electric vehicle (EV) financing and end-to-end solutions platform 'Vertelo' in India, which will invest $1.5 billion in electrifying fleets of buses and cars. The platform will offer financing, fleet management, and charging infrastructure solutions. Around 5 percent of this investment would go towards creating charging infrastructure and other requirements. Most of the investment will be for acquiring the vehicles. They planned to apply to the Reserve Bank of India (RBI) for a non-banking financial company (NBFC) licence. The NBFC would engage in lending for EV financing. The new platform has received anchor investment from the Green Climate Fund which has committed to invest up to $200 million. Overall, Vertelo plans to invest $1.5 billion over 10 years with the aim of achieving a potential greenhouse gas emissions reduction of 9.5 metric tonnes of carbon dioxide-equivalent (MtCO2e).


     

     

     

 

     


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