Element Fleet Management collaborates with industry leaders ChargePoint and WEX to provide access to nationwide EV charging and simplified billing
October 13 2021 - 8:40AM
Element Fleet Management Corp. (TSX: EFN) (“Element”), the largest
pure-play automotive fleet manager in the world, today announced
its relationship with industry leaders ChargePoint and WEX to
provide Element clients with access to ChargePoint’s growing
nationwide charging network. This strategic relationship provides a
consolidated billing system for charging and fueling across client
fleets, integrated with Element’s advanced analytics and dashboard
reporting platform.
“This relationship demonstrates Element’s ongoing leadership in
fleet electrification. We know fleet managers will be challenged
with a mix of internal combustion (IC) and electric vehicles (EV’s)
as they gradually electrify their fleets, and this agreement will
help minimize the administrative burden for fleet and charging
expenses, while providing the same in-depth reporting, expertise
and analytics our clients enjoy today,” said Chris Gittens,
Executive Vice President of Strategic Relationships for Element.
“Today’s announcement is another step in building a comprehensive
offering to address all our clients’ charging needs inclusive of
home, public and depot charging to drive even greater fleet
efficiencies.”
“ChargePoint is making the transition to electrification
seamless for fleets with take home and on-route charging solutions.
We make the charging experience simple and easy for the driver and
our robust software including advanced analytics and reporting
gives fleet managers the tools and visibility they need,” said Rich
Mohr, VP of Fleet Solutions at ChargePoint. “Our partnership with
Element and WEX is a major step in helping fleets prepare for the
electric future.”
WEX’s technology will help to enable seamless direct integration
of fuel and charging data into Element’s billing system allowing
for consolidated reporting, visibility and financial controls for
fleet managers. Bernie Kavanagh, Senior Vice President and General
Manager of Large Fleet at WEX said, “As a global leader in the
commercial fleet industry, we understand the challenges fleets face
in trying to manage these ‘mixed fleets’ and we are proud to be
working alongside Element and ChargePoint to deliver end-to-end
solutions that help fleets with the adoption of electric
vehicles.”
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
address every aspect of clients’ fleet requirements, from vehicle
acquisition and maintenance to accident recovery and remarketing.
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.
About ChargePoint
ChargePoint is creating a new fueling network to move people and
goods on electricity. Since 2007, ChargePoint has been committed to
making it easy for businesses and drivers to go electric with one
of the largest EV charging networks and a comprehensive portfolio
of charging solutions available today. ChargePoint’s cloud
subscription platform and software-defined charging hardware are
designed to include options for every charging scenario from home
and multifamily to workplace, parking, hospitality, retail and
transport fleets of all types. Today, one ChargePoint account
provides access to hundreds-of-thousands of places to charge in
North America and Europe. To date, more than 98 million charging
sessions have been delivered, with drivers plugging into the
ChargePoint network approximately every two seconds.
www.chargepoint.com
About WEX
WEX (NYSE: WEX) is a leading financial technology service
provider. We provide payment solutions to businesses of all sizes
across a wide spectrum of sectors, including fleet, corporate
payments, travel and health. WEX has offices in 14 countries and
employs approximately 5,200 people around the world. Learn more at
LinkedIn, Facebook, Instagram, Twitter, and our corporate blog. For
more information, visit www.wexinc.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 improvements to run-rate
profitability; 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; transformation of its core business; 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
Samantha Ouimet
Vice President, Communications
416-417-1272
souimet@elementcorp.com
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