Macquarie Asset Management, a division of Macquarie Group, unveils Vertelo, a comprehensive platform aimed at accelerating the transition of fleets to electric vehicles in India. With an initial investment from the Green Climate Fund, Vertelo aims to invest $US1.5 billion over a decade, focusing on reducing greenhouse gas emissions and supporting India’s ambitious vehicle electrification targets.
Vertelo, a newly launched platform by Macquarie Asset Management, sets its sights on revolutionizing fleet electrification in India. With an anchor investment from the Green Climate Fund amounting to $US200 million, Vertelo plans to deploy end-to-end solutions for electric vehicle adoption, including leasing, financing, charging infrastructure, fleet management services, and end-of-vehicle life management.
Aligned with India’s goal of achieving 40% electric buses and 70% electric commercial cars by 2030, Vertelo aims to build a robust EV ecosystem by partnering with leading OEMs and transport technology companies. The platform’s first milestone involves a long-term lease agreement with Chalo Mobility Pvt Ltd to supply 44 electric buses for operation in Mumbai.
Abhishek Poddar, India Country Head of Macquarie Group, emphasizes Vertelo’s role in advancing India’s energy independence and mitigating climate change impacts through accelerated electric vehicle adoption.
Henry Gonzalez, Deputy Executive Director of the Green Climate Fund, applauds Vertelo’s initiative, noting its potential to drive down costs and enhance accessibility to electric vehicles, thereby promoting cleaner air and sustainable mobility across India.
Spearheading Vertelo’s operations is Sandeep Gambhir, who brings extensive experience from ORIX India’s automotive leasing and mobility sectors.
Partnerships with industry leaders like JBM Group underscore Vertelo’s commitment to scaling up electric bus deployment, with plans to introduce up to 2,000 electric buses over the next few years.
In collaboration with Macquarie Asset Management, Vertelo seeks to catalyze fleet electrification efforts in India, leveraging its comprehensive offerings and strategic partnerships to propel the country towards a greener and more sustainable transportation landscape.
Vertelo’s launch marks a significant milestone in India’s journey towards electrified transportation. With backing from the Green Climate Fund and Macquarie Asset Management, Vertelo is poised to drive widespread adoption of electric vehicles, contributing to India’s environmental goals and fostering a cleaner, more efficient mobility ecosystem.
