EO Charging has launched a new multi-source financing and services platform to help accelerate the rollout of EV fleets across the UK.

EO Charging has initially created MOBILITe as a solution for the eBus sector in the UK but it’s also planned for rollout to van and truck fleets

Dubbed MOBILITe, it’s initially been created as a solution for the eBus sector in the UK but will roll out to van and truck fleets, along with potential other markets in the coming years.

Six in 10 (62%) fleet operators cite the significant upfront purchase costs of vehicles and charging infrastructure as one of the biggest barriers to going electric. The new initiative is designed to ease this financial burden by providing customers with a tailored solution at a fixed price, helping vehicle operators to reduce financial unknowns and accurately forecast return on investments.

Services on offer include:

•   Vehicle-as-a-service – giving operators the option to lease vehicles/chassis.
•   Charging-as-a-service – turnkey EV charging solutions, from grid upgrades, to hardware, software, installation, and ongoing operations and maintenance.
•   Battery-as-a-service – the option to lease or procure replacement batteries.

EO will handle all negotiations with the financial institutions, manufacturers and service providers, as well as managing the entire process on behalf of the customer throughout mobilisation, installation and the term of the lease.

Keith Watson, head of eBus and eTruck at EO Charging, said: “We know that businesses and local governments want to meet the UK’s net zero goals, but the scale and cost of the electrification projects required present a substantial barrier. That’s why we’ve created this solution – to make it quicker and easier for our customers to access the capital, services, and expertise they need to electrify their fleets.”

It’s backed by a number of the UK’s largest banks and financial institutions – including HSBC UK – and EO Charging has also been advised by law firm Addleshaw Goddard on the launch.

Robert King, head of sustainable finance at HSBC UK, said: “Many businesses are looking to move to electric vehicles as part of their plans to reduce their operational emissions, future proof their commercial vehicle fleet and reduce costs. As part of HSBC UK’s commitment to supporting businesses in all transport sectors transition to lower-carbon emissions, we are delighted to be shortlisted as a funder to support EO with the rollout of electric vehicle bus and charging infrastructure.”