ONE MOTO gets £123m financing
Published on https://www.sme10x.com
Signing a deal with a leading financier in London, ONE MOTO are offering finance to fleet operators to expand an electric delivery fleet from just £3 per day. With a global HQ in Dubai, ONE MOTO expanded into 21 territories in 2021, with another eight countries in discussion. It is also in conversation to build the UAEs first EV manufacturing facility, breaking ground Q4 2022.
ONE MOTO has secured a capitalisation of £123m to finance vehicles across the UK’s to pioneer the decarbonisation of the country’s last-mile, delivery and gig economy industry. Signing a deal with a leading financier in London, ONE MOTO are offering finance to fleet operators to expand an electric delivery fleet from just £3 per day.
According to Adam Ridgway, CEO, ONE MOTO Technologies, the company is supporting leading last-mile food delivery platforms, independent outlets and enhancing the rider welfare through data-rich AI to optimise routes, zones and pay.
With a global HQ in DIFC, Dubai, ONE MOTO expanded into 21 territories in 2021, with another eight countries in discussion. It is also in conversation to build the UAEs first EV manufacturing facility, breaking ground Q4 2022.
Ridgway added, “This is monumental in our expansion road map pan-Europe. With the support of the finance deal, we’re expecting to deploy up to 30,000 across the UK in H1 2023. This harnesses our conversations with UK Trade & Investment (UKTI) to open the first European assembly plant.”
In a statement, the company added that the the ecosystem foundations to decarbonise the UKs delivery network are set. ONE MOTO spoke to many delivery operators who needed a cost-effective, sustainable option and after many trials, it secured roll out plans with several leaders.
Mark Harman, Director, ONE MOTO, said, “Replacing a traditional petrol fleet shouldn’t happen overnight, to be highly effective it requires operational management to transition. Yet, it’s not just about the vehicles it’s the ancillary services to capture market dominance. Battery-as-a-service, supporting battery swaps allowing riders to work undisturbed by downtime, the SaaS FinTech solution, ensures a data rich AI backed cloud system to optimise fleet and rider management. We’ve taken our time to capture and analyse the data and demonstrate the economical and environmental savings.”
Both teams will be working to confirm contracts for the 44,500 vehicles in discussion and driving awareness of the benefits, increasing their online and offline distribution channels. Early movers will always have the advantage, but the ‘decision’ to make the commitment first isn’t always forthcoming when considering the environment, yet. However, all operators are looking at the commercial viability and when backed up with big data.
At ADIPEC 2022, Her Excellency Sarah Al Amiri confirmed ONE MOTO is one of the first 13 projects supported by the Ministry of Industry of Advanced Technology (MOIAT).
