Element Fleet Management Launches Full Service Offering to Lead Clients Through Fleet Electrification
24 Februar 2022 - 01:30PM
Element Fleet Management Corp. (TSX: EFN) (“Element”), the largest
pure-play automotive fleet manager in the world, today announced
the launch of Arc by Element — an end-to-end electric vehicle (EV)
fleet offering designed to help clients navigate and simplify the
complex transition from internal combustion engine (ICE) vehicles
to EVs.
As a trusted leader in global fleet management, Element is
well-positioned to assist its clients in evaluating and adopting
this new technology to advance their sustainability, strategic and
economic objectives.
“With the prerequisites for wide-scale EV adoption by commercial
vehicle fleets looming on the horizon — the right vehicle types at
the right price points, improved access to charging infrastructure
— and with organizational ESG mandates increasingly targeting
sustainability, we have seen a significant increase in client
interest in moving their fleets “from grey to green” through EV
adoption,” said Jay Forbes, President and CEO of Element. “Arc by
Element has been designed to simplify our clients’ transition
through fleet electrification and, in doing so, de-risk the
advancement of a critical component of their ESG principles and
business strategy.”
Arc by Element
Arc by Element adds a new EV solution to Element’s existing,
market-leading fleet management services.
- End-to-end EV fleet
management: Element’s full-service ICE fleet offering has
been expanded to support the unique needs of EVs — from upfront
planning, acquisition and financing to the ongoing maintenance,
power and accident management through to end-of-life remarketing.
- EV fleet transition
strategy, planning and implementation: Arc by Element
provides holistic support designed to give clients complete
confidence in every single aspect of deploying their EV fleet.
Element will work with clients to:
- Design and support data-driven EV
pilot programs and build roadmaps to full EV deployment that are
tightly integrated with their organizational ESG mandates,
- Maximize public and private
incentives to lower costs,
- Connect clients to Element’s
extensive network of EV-specialized providers,
- Plan EV infrastructure and charging
solutions across mixed charging scenarios (home, public,
depot/workplace),
- Support driver reimbursement for
home charging, and
- Work with fleets on driver training,
change management and stakeholder engagement.
Element has forged prominent alliances with EV providers and
built an integrated ecosystem to help deliver its industry-leading
EV services. Notable ecosystem collaborators to enable a seamless
EV charging experience for Element clients include Qmerit,
ChargePoint and WEX, and Enel X.
To learn more about Element’s new electrification solution and
services, visit https://www.elementfleet.com/arc
What Clients Are Saying
“We recognize that the electrification of transportation is
critical in the journey to a net-zero future and are proud to
partner with Element as we begin transitioning our North American
fleet to electric vehicles,” said Ashley Horvat, Vice President
eMobility North America, Schneider Electric. “By embracing electric
vehicles for our Sales and Service Teams, we can maintain our
commitments to our customers, while furthering our sustainability
goals.”
About Element Fleet Management
Element Fleet Management (TSX: EFN) is the largest pure-play
automotive fleet manager in the world, providing the full range of
fleet services and solutions to a growing base of loyal,
world-class clients – corporates, governments and not-for-profits –
across North America, Australia and New Zealand. Element enjoys
proven resilient cash flow, a significant proportion of which is
returned to shareholders in the form of dividends and share
buybacks; a scalable operating platform that magnifies revenue
growth into earnings growth; and an evolving capital-lighter
business model that enhances return on equity. Element’s services
and solutions address every aspect of clients’ fleet requirements,
from vehicle acquisition, maintenance, accidents, and remarketing
to integrating EVs and managing the complexity of gradual fleet
electrification. Clients benefit from Element’s expertise as the
largest fleet solutions provider in its markets, offering unmatched
economies of scale and insight used to reduce fleet operating costs
and improve productivity and performance. For more information,
visit www.elementfleet.com.
Forward-Looking Statements This press
release includes forward-looking statements regarding Element and
its business. Such statements are based on the current expectations
and views of future events of Element’s management. In some cases
the forward-looking statements can be identified by words or
phrases such as “may”, “will”, “expect”, “plan”, “anticipate”,
“intend”, “potential”, “estimate”, “believe” or the negative of
these terms, or other similar expressions intended to identify
forward-looking statements, including, among others, statements
regarding Element’s EV strategy and capabilities; global EV
adoption rates; enhancements to clients’ service experience and
service levels; enhancement of financial performance; improvements
to client retention trends; reduction of operating expenses;
increases in efficiency; Element's dividend policy and the payment
of future dividends; creation of value for all stakeholders;
expectations regarding syndication; growth prospects and expected
revenue growth; level of workforce engagement; improvements to
magnitude and quality of earnings; executive hiring and retention;
focus and discipline in investing; balance sheet management and
plans to reduce leverage ratios; anticipated benefits of the
balanced scorecard initiative; Element’s proposed share purchases,
including the number of common shares to be repurchased, the timing
thereof and TSX acceptance of the NCIB and any renewal thereof; and
expectations regarding financial performance. No forward-looking
statement can be guaranteed. Forward-looking statements and
information by their nature are based on assumptions and involve
known and unknown risks, uncertainties and other factors which may
cause Element's actual results, performance or achievements, or
industry results, to be materially different from any future
results, performance or achievements expressed or implied by such
forward-looking statement or information. Accordingly, readers
should not place undue reliance on any forward-looking statements
or information. Such risks and uncertainties include those
regarding the ongoing COVID-19 pandemic, risks regarding the fleet
management and finance industries, economic factors and many other
factors beyond the control of Element. A discussion of the material
risks and assumptions associated with this outlook can be found in
Element's annual MD&A, and Annual Information Form for the year
ended December 31, 2020, each of which has been filed on SEDAR and
can be accessed at www.sedar.com. Except as required by applicable
securities laws, forward-looking statements speak only as of the
date on which they are made and Element undertakes no obligation to
publicly update or revise any forward-looking statement, whether as
a result of new information, future events, or otherwise.
Contact:
Element Fleet Management
Natasha Boeck
Senior Manager, Media Relations
437-775-9153
nboeck@elementcorp.com
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