DriveElectric set to expand its electric vehicle (EV) leasing offer thanks to investment from Sumitomo Corporation

The collaboration will support business expansion and development of digital and energy products and services

By
Ian Osborne
November 1, 2021
Category:
EV Biz

Electric vehicle (EV) leasing specialist DriveElectric is expanding its electric car leasing offer through a partnership with Sumitomo Corporation. The partnership will support business expansion and development of digital and energy products and services.

Sumitomo Corporation, founded in 1919, is a leading Fortune 500 global trading and business investment company. Its business spans a range of industries and also jointly owns Sumitomo Mitsui Auto Service, Japan’s largest automotive leasing company.

DriveElectric is a specialist that has been working with emobility space since 2008. The company operates almost 5,000 all-electric vehicles in the UK, with particular expertise in electric vans.

The company also offers contract hire, fleet consultancy and monthly subscription rental, primarily for vans. The business has existing marketing partnerships with Lloyds Banking Group and EDF Energy.

Mike Potter, DriveElectric managing director, said: “With the UK due to phase out the sale of new petrol and diesel cars and vans by 2030 there is an urgent need to ensure that businesses and motorists can make the switch to electric vehicles as quickly and as easily as possible.

“DriveElectric is now able to scale up its level of expert service to meet rapidly increasing customer demand, as well as to expand the technology offering of the business.”

Takashi Yamana, Sumitomo Corporation Europe CEO, said: “Sumitomo Corporation is delighted to be part of the DriveElectric business and contribute to the UK’s journey towards net zero by promoting the transition to zero emission mobility.

“Also, we look forward to creating additional value to customers and society by developing new offerings integrated with digital and energy services.”

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