Partnership with NEoT Green Mobility to develop financing solutions to support Volta Trucks’ Truck as a Service lease agreements.
Funding would provide Volta Trucks’ European customers a wide range of financing solutions for the all-electric Volta Zero.
Credit applications with NEoT Green Mobility shall be available in Q2 2023 to finance the first Truck as a Service contracts
Volta Trucks, the leading and disruptive all-electric commercial vehicle manufacturer and services provider, has partnered with NEoT Green Mobility to develop customer funding solutions, with an ambition to offering operating lease solutions to finance up to 2,000 trucks from 2023.
The funding will enable Volta Trucks to offer customers a wide range of financing solutions for the all-electric Volta Zero through the company’s Truck as a Service (TaaS) offering.
NEoT Green Mobility is a European investment platform specialising in the financing of electric mobility services and funded by 3i EOPF, Mirova Eurofideme 4, Banque des Territoires and EDF Pulse Ventures. It aims at offering Volta Trucks’ European customers an up to eight years integrated Operating Lease with maintenance-included solutions. NEoT Green Mobility, managed by NEoT Capital, was launched to provide sector players with turnkey zero-emission mobility solutions with the potential to cover any kind of transport, including all-electric trucks.
Chief Executive Officer of Volta Trucks, Essa Al-Saleh, said;
“Vehicle financing is a key component of our Truck as a Service offering, and we are delighted to be partnering with NEoT Green Mobility. With this best-in-market specialist support and confidence in the residual value of the Volta Zero, we will be able to offer a tailored TaaS solution for each individual customer. This dedicated financing, alongside all the advantages of our all-electric truck, will ensure we are able to provide a lower Total Cost of Ownership for our customers, as we continue to simplify and de-risk their transition to an all-electric future.”
Discussing the new partnership with Volta Trucks, Philippe Ringenbach, CEO of NEoT said,
“We are excited to be partnering with Volta Trucks as we have an aligned mission when it comes to facilitating the transition to zero-tailpipe emission mobility. NEoT responds to various issues, such as air quality and pollution from the first kilometre to the last, so not only are we supporting the initial customers, but we also have a strong focus on long-term durability and operation including the management of the batteries over their lifetime and when the vehicles enter their second life.”
Notes to Editor
The Volta Zero is the world’s first purpose-built all-electric 16-tonne vehicle designed for urban logistics, reducing the environmental impact of freight deliveries in city centres. The Volta Zero is designed from the ground up with an operating pure-electric range of 150 – 200 kms (95 – 125 miles).
Safety is also at the heart of Volta Trucks, with the ambition to produce the safest trucks for our cities. The Volta Zero was designed for electric from the outset, which facilitates a step-change in vehicle, driver and pedestrian safety. Thanks to the removal of the internal combustion engine, the operator of a Volta Zero sits in a central driving position, with a much lower seat height than a conventional truck. This combination, plus a glass house-style cab design, gives the driver a wide 220-degrees of visibility, minimising dangerous blind spots.
Volta Trucks is also innovating with its Truck as a Service proposition that has revolutionised the financing and servicing of commercial vehicle fleets. Truck as a Service offers fleet managers a frictionless and hassle-free way to electrify their fleet by offering an all-inclusive service for a single, affordable, monthly fee. It provides access to an all-electric Volta Zero, with its charging infrastructure needs provided by world-leader Siemens, insurance through Europe’s premier insurtech broker, Qover, and servicing, maintenance, and training requirements, maximising the uptime and operational efficiency of the vehicle.
About Volta Trucks
Volta Trucks was founded in 2019 in Sweden by co-founders Carl-Magnus Norden and Kjell Waloen. The company, focused primarily on operations across all major cities in Europe and the UK, is accelerating the transition to all-electric trucks, reducing the effects of climate change and helping make our cities safer, healthier and more sustainable for everyone. Volta Trucks has partnered with a number of global leaders in the supply chain for the development and production of the Volta Zero, at pace and scale. In total, Volta Trucks has raised over €360 million funding to date.
The company’s partner in contract manufacturing is in Steyr, Austria, where production of customer specification vehicles started in April 2023. The company has also established a network of ‘Volta Trucks Hub’ service and maintenance facilities in its launch markets, with the first four already announced in Bonneuil-sur-Marne, to the south of Paris, in Tottenham, London, Duisburg, to the west of the Rhine-Ruhr region in Germany, and in Madrid, Spain.
About NEoT Green Mobility
NEoT Green Mobility (NGM) is an investment platform funded by top tier investors 3i EOPF, Mirova Eurofideme 4, Banque des Territoires and EDF Pulse Ventures. This platform is dedicated to finance the Zero-Emission mobility and to support public authorities, transport operators, and logistics and industrial companies in their energy transition in Europe. NGM offers turnkey leasing and services solutions including provision of batteries, rolling-stock or charging infrastructures as-a-service to customers across a wide range of sectors: urban and inter-urban public transport, logistics, shipping and railway, and charging solutions. Supported by its investors in its growth, NGM has already deployed or committed to deploy c.€150m of assets.
Supporting the logistics segment in its transition to zero emission mobility is one of NGM’s top priorities by providing tailor-made solutions to logistics companies in order to meet the challenges of the energy transition: upfront capex to be financed, new ecosystem of players to be understood and technological risk to be managed.
About NEoT Capital
NEoT Capital is a management company dedicated to supporting the energy transition to zero-emission mobility and low-carbon energy. Founded by leading industrialists, NEoT Capital creates and manages investment platforms that finance the deployment of zero-emission equipment based on innovative energy storage solutions. NEoT Capital brings together leading investors who will invest in these assets, carry them, and make them available to local authorities or operators as global services. Thanks to NEoT Capital’s technical and financial expertise, these services include not only financing but also support in the management and development of the equipment.
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