2 May 23

Volta’s eTruck as a service attracts new finance partners

Since commencing commercial production recently, Volta Trucks has been busy developing partnerships to strengthen its Truck-as-a-Service (TaaS) leasing programme. The most recent partnerships are with finance providers DLL and NEoT Green Mobility. 

Volta, the manufacturer and provider of all-electric commercial vehicles, announced last week that it has partnered with global finance company DLL to provide financial support and a wide range of financing solutions for the all-electric Volta Zero. This will include Operating Lease and Finance Lease solutions across Europe. The financing will also be the backbone to Volta’s TaaS offering. 

Similarly, Volta has also partnered with NEoT Green Mobility to develop financing solutions to provide European customers with a wide range of financing solutions for Volta Zero. 

A key enabler for the transition to all-electric fleets

In a press release, Chief Executive Officer of Volta Trucks, Essa Al-Saleh, said; “We are delighted to be partnering with DLL as one of our financing providers, to offer customers a tailored and flexible Truck as a Service financing option. This is a key enabler of their transition to an all-electric fleet. Combining our forward-thinking brand and innovative all-electric truck with DLL’s expertise in financing, we will work together to support customers’ needs and provide a lower Total Cost of Ownership, ensuring the move towards zero-emission transport is as seamless as possible.”

“As DLL, our goal is to provide the financial solutions and expertise needed to remove any obstacles towards a more clean and sustainable future. Legislation requires the shift to a cleaner tomorrow, with reduced emission mobility playing an essential role,” said Leo van den Dungen, Head of Transformational Growth of DLL. “We are delighted to be partnering with Volta Trucks to accelerate the industry adoption.” 

Volta Trucks, the leading and disruptive all-electric commercial vehicle manufacturer and services provider, has partnered with NEoT Green Mobility to develop customer funding solutions, with an ambition to offer operating lease solutions to finance up to 2,000 trucks from 2023.

The funding will enable Volta Trucks to offer customers a wide range of financing solutions for the all-electric Volta Zero through the company’s Truck as a Service (TaaS) offering. 

Offering tailored TaaS solutions for customers

NEoT Green Mobility is a European investment platform specialising in the financing of electric mobility services and funded by 3i EOPF, Mirova Eurofideme 4, Banque des Territoires and EDF Pulse Ventures. It aims at offering Volta Trucks’ European customers an up to eight years integrated Operating Lease with maintenance-included solutions. Application for finance for Volta Trucks will be available from Q2, 2023. 

Volta’s Al-Saleh, commented; “Vehicle financing is a key component of our Truck as a Service offering, and we are delighted to be partnering with NEoT Green Mobility. With this best-in-market specialist support and confidence in the residual value of the Volta Zero, we will be able to offer a tailored TaaS solution for each individual customer. This dedicated financing, alongside all the advantages of our all-electric truck, will ensure we are able to provide a lower Total Cost of Ownership for our customers, as we continue to simplify and de-risk their transition to an all-electric future.”

Discussing the new partnership with Volta Trucks, Philippe Ringenbach, CEO of NEoT said, “We are excited to be partnering with Volta Trucks as we have an aligned mission when it comes to facilitating the transition to zero-tailpipe emission mobility. NEoT responds to various issues, such as air quality and pollution from the first kilometre to the last, so not only are we supporting the initial customers, but we also have a strong focus on long-term durability and operation including the management of the batteries over their lifetime and when the vehicles enter their second life.” 

Images courtesy of Volta Trucks

Authored by: Alison Pittaway