CEFC adds to electric vehicles portfolio

The Clean Energy Finance Corporation (CEFC) has invested $6 million with Zenobē, which will use the funds to produce battery electric trucks that will then be leased to Woolworths.

The CEFC said the funding finance supports the delivery of a fleet of 60 battery electric trucks for last-mile deliveries - the final leg of the delivery journey to homes and businesses - to replace diesel vehicles and help reduce emissions in the transport sector.

Zenobē provides of electric vehicle solutions for commercial fleets, buses and trucks. It also provides network infrastructure for large-scale battery storage connected to the electricity grid and refurbishes batteries.

CEFC head of infrastructure Julia Hinwood commented that the heavy truck sector is a central part of Australia's economy and supports the supply chains of most industries.

"Electrifying Australia's heavy vehicle fleet is crucial for achieving national emissions reduction targets. This CEFC investment will support infrastructure development for the BET industry that supports Zenobē leasing fixed price BETs, an innovative model that can be adopted by the broader freight and logistics sector," she said.

The CEFC has helped finance more than 14,000 electric vehicles worth $900 million in value.

About $190 million is in other electric vehicle-related investments, including backing for Team Global Express to accelerate the electrification of its truck fleet.

Zenobē country director of electric vehicle fleets Gareth Ridge said Zenobē's electric vehicle as-a-service model will handle the upfront cost and complexity of fleet electrification and manage the entire transition so customers can focus on their core business.

"Our work with the CEFC shows that electrifying the truck sector is not a distant ambition. It's achievable today," Ridge said.

Woolworths Group head of partnerships HomeRun Henri Le Comte said: "Working with Zenobē has allowed us to scale our EV fleet quickly, helping to make our suburban streets just a little quieter and cleaner. Through Woolworths' continued investments in EV operations and infrastructure, we hope to set an example for other businesses to support the growth of Australia's EV industry."