Tag: electrification

Volvo Cars raises EUR 500m for electrification through new green bond

Stuart Mitchell

Volvo Cars has successfully placed its second green bond to raise EUR 500m from a diverse set of global investors. The bond was oversubscribed three-times, despite challenging global market conditions. All proceeds are earmarked for funding and accelerating the company’s transformation towards becoming a fully electric carmaker by 2030 and becoming climate neutral and circular by 2040. Over two thirds of the proceeds will fund the research and development of electric powertrains for next generation pure electric Volvo cars as well as related new platform technology, while the rest will…

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Major British companies come together to accelerate the electrification of transport in the UK

Stuart Mitchell

Seven major British companies, including the operators of some of the largest commercial vehicle fleets in the country – bp, BT, Direct Line Group, Royal Mail, ScottishPower, Severn Trent and Tesco – have come together to work to help accelerate the mass adoption of electric vehicles (EVs) across the UK. The UK’s ambitions for electrification of road transport are world-leading and, in a report published today, the seven companies – working together as the Electric Vehicle Fleet Accelerator (EVFA) – have outlined a series of urgent actions needed from both…

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British Gas makes largest UK commercial EV order with Vauxhall and commits to accelerating the electrification of its fleet

Stuart Mitchell

British Gas has announced that it is ordering 2,000 new all-electric Vivaro-e vans from Vauxhall and has introduced plans to never purchase another combustion engine vehicle. As part of its commitment to become a net zero organisation, Centrica, owner of British Gas, has committed electrify its 12,000 strong operational fleet by 2025, five years earlier than originally planned and will be making further orders with Vauxhall for electric vehicles as soon as they are available. Centrica has also committed to make its 1,500 company cars EV only in the same…

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Vattenfall announce new policy to speed up electrification of car fleet

Stuart Mitchell

Vattenfall’s Executive Group Management has decided on new policies for benefit cars and commercial passenger vehicles to reach its ambition to electrify its total car fleet of 4,600 vehicles by 2030.  Tomas Björnsson, head of E-mobility says: “Our goal is to enable a fossil free society and the electrification of the transport sector is an important element in this transition. To our customers we offer the full-suite of solutions needed for an electric vehicle: Charging at home, at work, at business as well as access to an international public network…

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