Fleet electrification company Zenobē has secured a A$400 million financing facility to support the deployment of electric commercial vehicles across Australia and New Zealand.
The company said the facility establishes what it describes as the region’s first integrated, multi-site financing platform dedicated to heavy-duty fleet electrification.
Supporting Fleet Electrification
The financing platform is intended to fund electric bus and commercial vehicle projects while helping fleet operators address the high upfront costs associated with transitioning from diesel-powered vehicles.
Zenobē’s electrification model combines vehicle financing, charging infrastructure, battery replacement, depot electrification and fleet optimisation services into a single offering.
According to the company, raising debt through a centralised financing structure enables more competitive pricing than financing individual projects separately.
Initial Projects Underway
The platform will launch with four operational projects located across Australia and New Zealand.
These include electric fleet depots in Leichhardt, Australia, and in Dunedin, West Auckland and Greater Wellington in New Zealand.
Zenobē said the financing platform is expected to support more than A$400 million in fleet electrification investment across the two countries.
Growing Regional Investment
Country Director for Australia and New Zealand Gareth Ridge said the financing structure is intended to support larger-scale deployment of zero-emission transport projects.
“This platform represents a major step forward for zero-emission transport in Australia and New Zealand. By combining proven operational projects with a strong pipeline into a single financing structure, we’re able to bring greater scale, certainty and cost efficiency to fleet electrification.”
He added:
“With strong momentum already underway across both markets, this platform positions us to accelerate investment and play a leading role in decarbonising transport across the region.”
Earlier this year, Zenobē announced plans to invest A$100 million in Australia to expand the country’s electric truck fleet, with the aim of more than doubling the number of battery-electric trucks operating nationwide by the end of the year.
The latest financing reflects continued investment in commercial fleet electrification as governments, transport operators and logistics companies seek to reduce emissions from heavy-duty transport.
