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£120m fund launched to accelerate commercial electric vehicle fleets

By / 6 months ago / UK News / No Comments

Zenobe Energy, an independent owner and operator of battery storage, has announced the launch of up to £120m of funding to accelerate the rollout of commercial electric vehicle fleets.

The Zenobe solution will reduce the upfront cost of investment in electric fleets

The Zenobe solution will reduce the upfront cost of investment in electric fleets

Supporting the government’s £48m Ultra-Low Emission Bus scheme (ULEB) announced in February this year, Zenobe’s fund is predominantly aimed at local authorities and bus operators, as well as fleet operators to transition to electric vehicles. The firm is consequently inviting companies to get in touch with electric vehicle fleet projects.

Zenobe says it can provide a range of solutions including upfront financing for local authorities, OEMs, and bus and other fleet operators. The idea is that Zenobe invests in infrastructure and implementation of an electric vehicle fleet, while the customer benefits from vastly reduced initial outlay, and pays for the use of equipment and vehicles on a pence-per-mile service fee or a fixed monthly charge.

Zenobe claims its solution will also lower the total lifecycle cost by as much as 30% in some cases. Zenobe Energy will work with the Low Carbon Vehicle Partnership to ensure all projects are zero emission and are compatible with the standards set in the government’s recent ULEB scheme, for electric bus schemes.

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Jonathan Musk

Jonathan turned to motoring journalism in 2013 having founded, edited and produced Autovolt - one of the UK's leading electric car publications. He has also written and produced books on both Ferrari and Hispano-Suiza, while working as an international graphic designer for the past 15 years. As the automotive industry moves towards electrification, Jonathan brings a near-unrivalled knowledge of EVs and hybrids to Fleet World Group.