Vertelo to Invest US$ 1.5 Billion in Indian EV Sector
Vertelo, a new platform backed by Macquarie Group Ltd, an Australian global financial services group, is set to revolutionize India’s electric vehicle (EV) landscape with a US$ 1.5 bn investment. This strategic move aims to reduce greenhouse gas emissions by an equivalent of 9.5 metric tonnes of carbon dioxide.
Vertelo’s ambitious plans include providing end-to-end solutions for fleet electrification in the country. These solutions include leasing, financing, charging infrastructure and energy solutions, fleet management services, and end-of-vehicle life management. With an anchor investment of US$ 200 million from the Green Climate Fund, the platform is poised to make a substantial impact on the country’s transition to cleaner transportation.
Moreover, the platform has partnered with key industry players like Chalo Mobility Pvt Ltd and leading electric bus manufacturer JBM Group. Through these partnerships, Vertelo is committed to procuring up to 2,000 electric buses and cars from various original equipment manufacturers (OEMs). These efforts align with the country’s growing focus on promoting EV adoption and sustainable mobility, as demonstrated by recent government initiatives and partnerships.