Neot Green Mobility takes delivery of first tranche of 75 electric trucks in Germany

NGM, which is backed by investors including Alba Infrastructure Partners, Mirova, Banque des Territoires, and EDF Pulse Ventures, specialises in financing the transition to low-carbon mobility, supporting public authorities, transport operators, as well as logistics and industrial companies in their energy transition across Europe.

This latest project, which aims to acccelerate the take-up of electric trucks, is a double first for NGM - being its first project in Germany and its first financing solution dedicated to electric trucks, with vehicles ranging from 18-ton rigids to 44-ton tractors.

The agreement provides for Truck-as-a-Service contracts including vehicle provision, maintenance and monitoring for periods of four to five years, with the possibility of extension.

With annual mileage of between 50,000 and 150,000 km per truck, NGM said the expected environmental benefits are significant.

Philippe Ringenbach, NGM chief executive, said: “This operation illustrates our commitment to accelerating the adoption of low-carbon mobility solutions in Europe.

“By facilitating access to financing and subsidies, we are enabling key players in the transport sector to take a decisive step towards the electrification of their fleets.”

Benjamin Schiebler, Volvo Trucks Germany electromobility manager, added: “Volvo Trucks is a global leader in medium- and heavy-duty electric trucks with eight battery electric models in its portfolio.

“Volvo’s broad product range enables electrification of city and regional distribution, construction, waste management — and soon also long-distance transport.

“Serial production started in 2019, and to date, Volvo has delivered over 5,000 electric trucks to customers in 50 countries worldwide.”