Vitol and BYD commit $250 million to a new Green Mobility service

Vitol and BYD, the world’s leading manufacturer of electric vehicles, rechargeable battery and energy storage systems, have formed a partnership to provide fleet mobility as a service in select markets worldwide. Together they will offer municipal, corporate and others a comprehensive solution including electric vehicles, charging infrastructure and depot design.

The partners have committed an initial $250 million to the initiative, targeted at organisations, private and public, looking to decarbonise their fleets through electrification. The organisations will benefit from access to capital and the partners’ expertise in installing and managing the required infrastructure, as well as the efficient management of power requirements.

Vitol is already in the process of deploying over 300 electric buses in Bogota and is seeking additional opportunities in South America and further afield.

Andrew de Pass, Head of Renewables, Vitol Inc said: “We are excited by the potential and intend to grow our fleet tenfold in the coming years. Fleet owners are looking to minimise emissions and our proposition enables them to do so with minimal capital outlay and outsourced operational risk.”