GE Capital and Leaseplan have both signed agreements with car
manufacturers to boost environmental fleet solutions.
GE Capital agreed to potentially buy 1,000
electrical vehicles (EVs) from PSA Peugeot Citroen.
The global lender’s memorandum of
understanding with the PSA Peugeot Citroen contributes to GE’s
target to purchase 25,000 EVs globally by 2015.
The agreement would see GE Capital lease EVs
across Belgium, France, Germany, Italy, Netherlands, Sweden,
Portugal, Spain, Switzerland and the UK.
“We’re making progress on deploying EVs in our
own fleet and in customer fleets,” said Salvatore Cavallaro,
managing director for EVs, Europe, Middle East and Africa at GE
“A number of pilot programs are underway
and we are seeing interest particularly from our customers in
France and Germany, but it is still early in the process with the
automotive manufacturers’ production levels starting to ramp
The agreement comes about a week after the
British Vehicle Rental and Leasing Association warned that
EVs are too expensive for fleets, especially highlighting the
total cost of ownership.
Cavallaro commented: “The initial capital
costs of an EV can indeed represent a barrier to adoption.”
“An EV investment needs to be viewed instead
within the broader perspective of that total cost of ownership.
“We are working hard to ensure that we are
able to provide the appropriate flexible financing solutions to
help remove the anxiety of up-front cost from customers looking to
move towards this technology.”
Another partnership was formed between
Dutch-based LeasePlan and Toyota Motor Europe to offer “the latest
innovation of plug-in hybrid electrical vehicles” to corporate
customers, said a company statement.
LeasePlan will enable Toyota Motor Europe
increase the visibility of its upcoming Prius Plug-In Hybrid prior
to its commercialisation in 2012.
Toyota Motor Europe will share its expertise
in environmental solutions including the recent insights gained
from a trial with more than 600 pre-production Prius Plug-In Hybrid
vehicles in the world, 200 in Europe, over a three-year period.
“We are excited to enter into this new partnership with Toyota
in connection with the new Prius Plug-In Hybrid,” said Vahid Daemi,
chairman of the managing board and CEO of LeasePlan.