Mumbai, Macquarie Asset Management on Monday announced the launch of a FLEE electrification solutions platform that will raise US$1.5 billion over 1 year and accelerate electric vehicle adoption in the country.
New platform Vertello has received an anchor investment from the Green Climate Fund (GCF), which has committed to invest up to US$200 million, Macquarie Asset Management said in a statement.
Vertelo plans to raise US$1.5 billion over 10 years in the domestic e-mobility ecosystem.
The new business will be led by Sandeep Gambhir, who previously led the automotive leasing, mobility and non-bank financial businesses for ORIX Indi for 11 years.
Macquarie Asset Management, part of the Macquarie Group, aims to accelerate the transition of fleets to electric vehicles and build a strong e-ecosystem by providing tailored solutions to customers.
Macquarie will offer leasing and financing, charging infrastructure and energy solutions, fleet management services and vehicle life management, I said.
Abhishek Poddar, India country head, Macquarie Group, said the transition to electric vehicles would provide India with significant benefits in increasing its energy independence and mitigating the impacts of climate change.
Henry Gonzalez, Deputy Executive Director of the Green Climate Fund, said, "This investment is the Green Climate Fund's first private sector transportation program in the e-mobility sector, and we are bringing US$200 million of equity capital to support India's e-mobility sector." "Excited to provide mobility change."
New platform Vertello has received an anchor investment from the Green Climate Fund (GCF), which has committed to invest up to US$200 million, Macquarie Asset Management said in a statement.
Vertelo plans to raise US$1.5 billion over 10 years in the domestic e-mobility ecosystem.
The new business will be led by Sandeep Gambhir, who previously led the automotive leasing, mobility and non-bank financial businesses for ORIX Indi for 11 years.
Macquarie Asset Management, part of the Macquarie Group, aims to accelerate the transition of fleets to electric vehicles and build a strong e-ecosystem by providing tailored solutions to customers.
Macquarie will offer leasing and financing, charging infrastructure and energy solutions, fleet management services and vehicle life management, I said.
Abhishek Poddar, India country head, Macquarie Group, said the transition to electric vehicles would provide India with significant benefits in increasing its energy independence and mitigating the impacts of climate change.
Henry Gonzalez, Deputy Executive Director of the Green Climate Fund, said, "This investment is the Green Climate Fund's first private sector transportation program in the e-mobility sector, and we are bringing US$200 million of equity capital to support India's e-mobility sector." "Excited to provide mobility change."
