Macquarie launches EV fund, to invest $1.5 billion

The platform has received anchor investment from the Green Climate Fund which has committed to invest up to $200 million.
Macquarie launches EV fund, to invest $1.5 billion

NEW DELHI: Eyeing an opportunity in India’s electrification journey, Macquarie Asset Management, part of Australia’s diversified Macquarie Group, on Monday launched an electric vehicle (EV) dedicated platform Vertelo.

The platform has received anchor investment from the Green Climate Fund which has committed to invest up to $200 million. Overall, Vertelo plans to invest $US1.5 billion over 10 years with the aim to achieve a potential greenhouse gas emissions reduction of 9.5 metric tons of carbon dioxide-equivalent (MtCO2e). The launch of this platform comes as EV sales continue to grow at a healthy pace. According to data available, EV sales, led to two-wheelers and three-wheelers, grew 41% in financial year 2024 to 1.66 million units.

Macquarie said Vertelo would accelerate transition of fleets to EVs and build a robust ecosystem by offering solutions to customers including leasing and financing, charging infrastructure and energy solutions, fleet management services, and end-of-vehicle life management. It has signed a lease agreement with Chalo Mobility to supply 44 electric buses manufactured by JBM to operate in Mumbai.

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