Macquarie Establishes $1.5 Billion Platform for Electric Vehicles

Australia's diversified financial group, Macquarie, has launched Vertelo, its new electric vehicle (EV) financing and end-to-end solutions platform, in India. This initiative involves a substantial investment of $1.5 billion, with the goal of electrifying fleets of buses and cars. About 95% of the total investment will be directed toward electrifying commercial vehicles, while the remaining 5% will be used to support charging infrastructure and other related needs.

Vertelo's focus on electric vehicles aims to provide comprehensive solutions, including financing, fleet management, and charging infrastructure. As part of its investment strategy, the platform plans to purchase up to 2,000 electric cars from Tata Motors, the leading EV manufacturer in India, over the next three years. Additionally, Vertelo will acquire up to 2,000 electric buses from JBM Auto and Eka Mobility over the next three to five years.

Macquarie's commitment to developing India's EV ecosystem is further highlighted by its recent minority stake acquisition in Charge Zone, an Indian fast-charging infrastructure provider, in December. This move demonstrates the company's strategic approach to supporting the growth of EVs in India and addressing the broader infrastructure needs of the industry.

HBL