Mitsubishi HC Capital America, Autocar and Chargepoint Partner on EV Financing Solution
MAY 15, 2023 - 6:55 am
Autocar, a manufacturer of engineered severe-duty vocational vehicles, partnered with Mitsubishi HC Capital America and ChargePoint to provide the ‘Power Up Program,’ a bundled vehicle financing solution designed to help customers grow their electric fleets and build and install charging infrastructure. Through the partnership with Mitsubishi HC Capital America, Autocar customers can finance electric terminal tractor heavy-use vehicles (E-ACTTs), along with integrated software, hardware charging solutions and installation services, through ChargePoint.
“Electrification is coming to the heavy truck segment perhaps faster than the industry can keep pace with it,” Andrew Taitz, chairman of Autocar, said. “That’s why the Power Up Program is there to bring financing solutions to the table for our customers who aren’t used to making the kinds of capital investment required for electric fleets. By combining the financing, infrastructure, services and installation, this partnership aims to reduce the complexities and capital investment of transitioning fleets to electric.
“The Power Up Program aligns with our ‘Always Up Promise,’ and we are excited to partner with Mitsubishi HC Capital America and ChargePoint to make it a reality. With the Power Up Program, our customers will have the power to grow their EV fleet, power to build the charging infrastructure, power to defer capital expenditure pressure, and the power to meet regulatory goals as we all march toward a world of reduced emissions.”
“We are more than excited to support Autocar’s market-leading battery electric terminal tractor — the E-ACTT — in advancing our collective interests to drive clean energy initiatives for both companies. Throughout Mitsubishi HC Capital America, we have a sincere commitment to the United Nations Sustainable Development Goals (SDGs) and we’re developing and implementing ways to advance these SDGs through financing, investing and services, with particular focus in the transportation mobility space, where clean energy and transportation cross paths. The transition to the Autocar E-ACTT terminal tractor from traditional ICE technology is a perfect match for Mitsubishi HC Capital America,” John J. Critelli, director of corporate development for mobility solutions for Mitsubishi HC Capital America, said.
“As fleets continue to play a leading role in the transition to electrification, fleet operators will need integrated charging solutions to help streamline operations and deliver a lower total cost of ownership (TCO),” Rich Mohr, vice president of fleet at ChargePoint, said. “Together, Autocar, Mitsubishi Capital and ChargePoint are removing barriers to entry for electric fleets and delivering integrated software and hardware solutions that maximize their TCO advantage.”
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