Macquarie's New Platform Vertelo to Boost Electric Vehicle Adoption in India

Macquarie Asset Management unveiled a significant initiative on Monday, aimed at propelling the adoption of electric vehicles (EVs) in India. The company has introduced Vertelo, a new platform dedicated to fleet electrification solutions, with plans to deploy USD 1.5 billion over the next decade to foster the growth of the domestic e-mobility ecosystem.

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Vertelo has garnered substantial support from the Green Climate Fund (GCF), which has pledged an anchor investment of up to USD 200 million. This financial backing marks a pivotal step in Vertelo's mission to enhance electric vehicle adoption across the country.

The initiative is set to be spearheaded by Sandeep Gambhir, an industry veteran with over a decade of experience at ORIX India, where he led automotive leasing, mobility, and financial services. Under his leadership, Vertelo aims to offer comprehensive solutions tailored to accelerate the transition of fleets to electric vehicles.

Macquarie Asset Management's strategy encompasses a broad spectrum of services designed to support the EV transition. These include leasing and financing options for electric vehicles, the development of charging infrastructure and energy solutions, fleet management services, and strategies for the end-of-life management of vehicles.

Abhishek Poddar, India Country Head for Macquarie Group, highlighted the transformative potential of this transition. He noted that adopting electric vehicles would not only enhance India's energy independence but also play a crucial role in mitigating the impacts of climate change.

In a statement underscoring the significance of this investment, Henry Gonzalez, Deputy Executive Director of the Green Climate Fund, expressed enthusiasm about GCF's involvement. He remarked that this marks GCF's first foray into private-sector transport programs within the e-mobility sector in India, emphasizing the fund's commitment to supporting the country's e-mobility transition with a substantial equity capital injection of USD 200 million.

This ambitious initiative by Macquarie Asset Management and its partners represents a major leap forward in India's journey towards sustainable transportation. By mobilizing substantial financial resources and leveraging expert leadership, Vertelo is poised to make a lasting impact on the country's e-mobility landscape.