ONE MOTO raises $150M to scale its last mile delivery operations in the UK
ONE MOTO Technologies, an electric vehicle (EV) player with a global presence, has secured $150 million in funding to finance vehicles in the UK and drive decarbonization in the country's last-mile, delivery and gig economy industry.
The company is offering finance to fleet operators at a cost of £3 per day to expand their electric delivery fleet. With a goal to electrify all last-mile vehicles in the UK by 2026, this financing from ONE MOTO is expected to lead to a reduction of 168,000 tonnes of CO2 and a 50% drop in the production of harmful pollutants from petrol vehicles.
The company plans to deploy up to 30,000 vehicles in the UK in H1 2023.
ONE MOTO is also joining forces with Avis and is in discussions to build the UAE’s first EV manufacturing facility, which is expected to break ground in Q4 2022.
The company is one of the first 13 projects supported by the Ministry of Industry of Advanced Technology (MOIAT) and is committed to contributing positively towards the UAE economy through collaborations with the public and private sector.
ONE MOTO claims each of its vehicle is pre-built with a complete telematics and fleet management software solution, with a FinTech offering. It allows riders and owners to optimise routes through AI, increase the safety and welfare of riders, and ensure its customers’ sustainable values are met at all times.
