Macquarie Asset Management’s Green Investment Group launches new EV infrastructure business, Fleete

Macquarie Asset Management’s Green Investment Group (GIG) has launched a new electric vehicle infrastructure business for operators of electric commercial vehicles. The new business, Fleete, uses a charging-as-a-service model to help operators of buses, trucks and vans accelerate their transition to electric vehicles.

Fleete is a one-stop-shop, taking care of the entire installation, management, and financing of charging infrastructure, with no up-front costs. The business offers a technology-driven, flexible service that puts the customer at the centre, utilising the latest charging infrastructure that can scale as their EV fleet grows.

“The mass transition to electric vehicles is now inevitable, the only question is how quickly it will happen. GIG is here to make that transition happen as fast as possible and we see commercial fleets as an opportunity for significant near-term decarbonisation impact. By establishing Fleete, we aim to accelerate the EV transition by making it easy for operators to reap the benefits of going electric immediately, while supporting the delivery of a smart, flexible, low-carbon energy system.”

Mark Dooley
Global Head of Green Investment Group

“The deployment of electric fleet charging infrastructure is currently in its infancy - but demand is set to grow exponentially. Fleete has been created to support this large-scale transition to electric commercial vehicles. Through a monthly subscription with no upfront costs, we are putting clients at ease as they transition to electric vehicles. All of this wrapped up in our over-arching digital platform. Achieving this can only be done in a smart, connected way with a single point of service for our clients. That is Fleete.”

Dan Bentham
CEO of Fleete

Fleete’s innovative subscription-based service installs high-powered DC charging equipment, delivering between 60kW and 600kW depending on individual fleet requirements, enabling efficient charging overnight and rapid top-ups. This technology is provided by market leaders in ultrafast charging systems – potentially providing 100km of range in 10 minutes.

The business will provide charging infrastructure solutions for three types of location:

• Working with clients to deploy charging in large scale depots where vehicles are parked overnight
• For smaller clients, Fleete will build innovative hybrid hubs, working with an anchor client to develop a charging infrastructure hub in cities, in locations like trading estates or carparks, that can be used by multiple fleets, with vehicles of all sizes, such as taxis and light commercial vehicles
• Intercity chargers – supporting truck and coach fleets by building rapid chargers close to motorways.

As part of its service, Fleete will advise on layout, design, build and operation of all types of sites - as well as electric vehicle choice.

In order to minimise energy costs, Fleete customers will have access to the company’s proprietary software, which manages charging schedules - smart charging to take advantage of lower cost overnight rates for instance - optimising energy consumption and business spend while further reducing costs and carbon. This will also have significant benefits for the electricity networks – in helping them manage charging demand. 

Whilst they account for less than 2% of the vehicles on the road in Europe, buses and trucks made up 23% of the CO2 emissions from road transport in 2019, with vans accounting for 13% of road transport carbon pollution in the EU. Significant investment in charging infrastructure is required to decarbonise the sector. EY projects that the continent will need 65 million electric vehicle chargers by 2035, requiring $134 billion in infrastructure investment.¹ Over 3 million of these chargers will be in fleet hubs.