Hitachi ZeroCarbon and MUFG Join Forces to Eliminate Cost Barriers for Fleet Electrification

Hitachi ZeroCarbon has recently forged a significant partnership with MUFG, a global banking leader, to fast-track the electrification of commercial vehicle fleets. This collaboration is designed to tackle the two primary obstacles that hinder widespread electric vehicle (EV) adoption: upfront capital investment and operational complexity.

Addressing Barriers to EV Adoption

The partnership aims to support fleet operators who are facing pressure to decarbonize in light of stringent regulatory and environmental deadlines. Transitioning from diesel-powered vehicles to electric fleets can be a daunting and costly process. It involves substantial investments in:

• New electric vehicles
• Charging infrastructure
• Workforce training

Many businesses experience delays in adopting EV technology due to these financial and operational challenges.

Integrated Solutions for Fleet Electrification

By collaborating, Hitachi ZeroCarbon and MUFG offer an integrated solution that combines financial resources with technological innovation. This partnership enables fleets to:

• Seamlessly scale their electrification across various markets
• Utilize Hitachi’s platform to better understand and manage their assets

The managed service model also ensures the long-term asset value, allowing for the reuse or recycling of components at the end of each lease.

Insights from Industry Leaders

Hiroki Miyashita, Managing Director of MUFG’s business co-creation division, stated, “We have a proud history of collaboration with Hitachi, and our shared values have driven transformative change across multiple industries. By combining our expertise with Hitachi, we aim to decarbonize the commercial fleet ecosystem swiftly and efficiently.”

Real-World Application: First Bus

The collaborative model is already in action with First Bus, a major UK bus operator that plans to transition its fleet of 4,500 vehicles to electric by 2035. Thanks to this partnership, First Bus has successfully acquired over 1,000 EV batteries and electrified services for 1,500 buses.

Creating Financial Viability for Fleet Managers

Ram Ramachander, CEO of Hitachi ZeroCarbon, emphasized that cost is the biggest hurdle to fleet electrification. “We’re removing that barrier by providing fleet managers with the assurance that decarbonization is achievable and financially viable. With financing options from partners like MUFG, operators can expedite their journey toward net-zero targets while opening new revenue streams,” he added.

Furthermore, by assisting customers in optimizing their assets, Hitachi ZeroCarbon is enabling long-term investment returns and creating meaningful commercial value. This approach supports both sustainability and profitability, making fleet electrification a practical reality.

For more information on electrification solutions, visit Hitachi ZeroCarbon or learn about financing options at MUFG.