AP Equipment Financing Creates Financing Solution for SEA Electric’s Commercial Vehicles



AP Equipment Financing is pursuing an initiative to provide finance programs for package and delivery customers looking to acquire electric vehicles. To begin this initiative, AP Equipment Financing will be providing finance solutions for SEA Electric‘s suite of electric vehicles, which are designed solely for package delivery contractors like FedEx Ground.

“Financing commercial grade electric vehicles with manufacturers such as SEA Electric is not only a great option for providing state-of-the-art, high-quality vehicles for our package delivery clientele, but this is also a socially responsible initiative that our company stands firmly behind,” Nick Fong, chief marketing officer and chief technology officer at AP Equipment Financing, said. “Our customers have come to rely on AP’s ability to provide value-added services beyond the standard finance program. We take pride in our ability to provide the highest levels of customer service. This often entails preparing for large industry-changing disruptions such as the electric vehicle transition. Staying ahead of the curve and offering finance packages customized to the unique requirements of EVs demonstrates our dedication to our customers’ ever-changing needs, as well as our dedication to reducing carbon footprints nationwide.”

“We are at a point now where we are running major trials with some of the world’s largest fleet operators — the UPS, Staples and FedEx,” Mike Menyhard, CSO of SEA Electric, said. “At the end of the day, those are the type of organizations that could very well put in three-, four- and five-digit orders, and we need to be able to show them how we would be able to support them.”

According to SEA Electric, it is on schedule to deliver more than 1,000 electric commercial vehicles this year and to have more than 15,000 vehicles on the road by the end of 2023.

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