The Vancouver-based startup will use the $8 million in funding from Siemens Financial Services and the Quebec pension fund Fonds de solidarité FTQ to expand its service, which arranges vehicle leasing, charging, financing and maintenance of medium- or heavy-duty vehicle fleets and combines them into one bill, to make it easier for businesses to switch to EVs. (The Logic)
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The Vancouver-based startup will use the $8 million in funding from Siemens Financial Services and the Quebec pension fund Fonds de solidarité FTQ to expand its service, which arranges vehicle leasing, charging, financing and maintenance of medium- or heavy-duty vehicle fleets and combines them into one bill, to make it easier for businesses to switch to EVs. (The Logic)
Talking point: Siemens is making big moves in EV charging, and 7Gen is reaping the benefits. Volkswagen recently sold a stake in its US$2.45-billion EV-charger division to Siemens Financial Services for US$450 million to fund a U.S. and Canada expansion. 7Gen CEO and co-founder Frans Tjallingii told The Logic that Siemens gives it a “highly credible” backer that, alongside Fonds de solidarité FTQ, is willing to make introductions to a global portfolio of companies. Meanwhile, upcoming EV incentives for businesses may get extra attention as gas prices rise. The 2022 federal budget set aside $547.5 million in incentives for companies to switch to medium- or heavy-duty zero-emission vehicles.
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