Vitol and BYD team on e-mobility service

BYD and Dutch energy specialist Vitol have formed a joint venture aimed at providing e-mobility as a service.

Dutch Energy commodities company Vitol and BYD, a global manufacturer of electric vehicles, rechargeable battery and energy storage systems, have announced a partnership aimed at providing fleet mobility as a service in select markets worldwide. Together, the companies said 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 private and public organizations looking to decarbonize their fleets through electrification. Those organizations 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, the companies said.

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

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