Chennai, 26 November 2024: SWITCH Mobility, a global forerunner in electric buses and light commercial vehicles, or eLCVs, announced a landmark partnership with Vertelo, an integrated fleet electrification solutions provider. Both the companies entered into a Memorandum of Understanding, or MoU, to deploy 1,000 electric commercial vehicles across India over three to five years. This partnership has all the potential to reshape India’s commercial mobility future through dealing with such prime concerns like climate change, air pollution, and congestion of the city. By harnessing the latest technology of electric vehicles offered by SWITCH Mobility, Vertelo’s new concept leasing and financing would allow easy accessibility for business and municipal organizations.
Under the agreement, Vertelo will lease and finance SWITCH’s eLCVs and advanced electric buses to help businesses easily transition to green fleets without significant upfront costs. That focus on flexibility and accessibility means the partnership will help even smaller business entities to embrace the electric vehicle revolution.
Speaking at the MoU signing event in Chennai, Mr. Mahesh Babu, CEO of SWITCH Mobility, highlighted the significance of the partnership: “This collaboration represents a pivotal shift in India’s commercial mobility landscape. By combining our advanced EV technology with Vertelo’s innovative leasing solutions, we’re not just selling vehicles—we’re enabling businesses to embrace sustainable transportation without capital constraints. This aligns perfectly with our vision of democratizing electric mobility across India’s diverse commercial sectors.“
Echoing this sentiment, Mr. Sandeep Gambhir, CEO of Vertelo, said: “Our alliance with SWITCH Mobility marks a transformative approach to commercial fleet electrification. By removing the traditional barriers of high upfront costs and operational uncertainties, we’re empowering businesses of all sizes to participate in India’s electric revolution. This partnership goes beyond vehicle deployment—it’s about creating a sustainable ecosystem that makes electric mobility the obvious choice for commercial operators.“
Building a sustainable future
The deployment of SWITCH’s electric vehicles through Vertelo’s leasing platform marks a giant step toward decarbonizing transport in India. The companies are dedicated to promoting a healthy EV ecosystem in areas such as leasing, financing, charging infrastructure, fleet management, and end-of-life vehicle solutions.
Vertelo will, with investment from Macquarie Asset Management and the Green Climate Fund, commit $1.5 billion over a decade to drive the acceleration of fleets shifting to electric power. That’s a very massive amount of investment in green initiatives with a reduction in greenhouse gases by 9.5 million metric tons of CO2 equivalent, or MtCO2e.
About SWITCH Mobility
SWITCH Mobility, a subsidiary of Ashok Leyland and part of the Hinduja Group, has established itself as a leader in green mobility. The company has a global presence, with over 950 electric vehicles on the road, collectively clocking more than 130 million kilometers. Known for its innovative lightweight architecture and net-zero carbon technologies, SWITCH has won numerous accolades, including “Company of the Year” and “Star Electric Bus of the Year”.
With a vision to shape a cleaner and more sustainable future, SWITCH combines British and Indian expertise to deliver cutting-edge electric vehicles tailored to diverse markets.
About Vertelo
Vertelo specializes in fleet electrification solutions, offering comprehensive services such as leasing, charging infrastructure, energy management, and vehicle lifecycle support. Supported by Macquarie Asset Management, Vertelo aims to bridge the gap between EV adoption and operational feasibility, making sustainable transportation accessible to businesses and public institutions.
A Shared Vision for India’s Future
This collaboration underscores SWITCH Mobility’s role as an industry leader and Vertelo’s commitment to fostering sustainable fleet electrification. Together, they aim to transform India’s transportation sector, making eco-friendly commercial mobility a reality for all.
By addressing critical environmental and operational challenges, the SWITCH-Vertelo partnership sets a benchmark for public-private collaborations in accelerating India’s transition to sustainable transportation.
