Macquarie spinoff targets electric utes and cars for fleets after FBT change

Macquarie spin-out Fleete and Sydney fleet management software company Evenergi are partnering up as more companies look to make the switch to electric vehicles (EVs) for their company fleets.

The two companies intend to work together with Evenergi providing initial feasibility studies for clients and Fleete providing financing, and operating turn-key electric fleet projects.

“We are seeing a lot of interest and commitments to convert to electric fleet, but also a lot of uncertainty of how to approach the transition,” Fleete CEO Dan Bentham said in a statement.

“This partnership allows us to support even more fleet operators on this journey and commit to their low carbon future, today.”

Bigger businesses have already said they will invest in EV fleets with the removal of the fringe benefit tax on models worth less than $84,916, and EVs are expected to become more cost effective once the National Electric Vehicle Strategy and emissions standards are put in place. Companies such as IKEA have all-electric-by-2025 targets in place.

Fleete finances, builds, owns, and operates large-scale charging infrastructure for commercial fleets with no up-front costs in a charger-as-a-service model — similar to petrol stations today, except  clients pay for the service by subscription. Macquarie Asset Management launched the company in September last year.

Evenergi’s BetterFleet software helps companies manage the move to electric by providing information around charger locations, range and charging demands on the grid, by creating a digital twin of a region. It has around 150 clients across Asia Pacific, Northern America and Europe.

It received backing from ARENA in 2019 for its Charge Together Fleets program that aimed to bring together hundreds of fleet managers to coordinate the sharing of knowledge, and is part of a world-first trial by three Sydney bus companies that uses its software to optimise electric bus charging times by syncing with peak and off-peak grid use.

“We have provided software and services to hundreds of fleets globally. Our clients are often looking for a financing and infrastructure partner who understands the space,” Evenergi CEO Dan Hilson said in a statement.

Both companies have been contacted for further comment.

In 2019, light commercial vehicles produced 17 Mt of carbon dioxide an equivalents (CO2e), according to the then-Department of Climate Change, Energy, Environment and Water.

Light vehicles, which include passenger cars and utes, make up 62 per cent of transport emissions, the department found.