Hitachi and Japanese bank join forces to accelerate fleet electrification

Hitachi ZeroCarbon and Japanese bank MUFG have joined forces to help drive the global transition to electric vehicles (EVs) by removing technical and capital constraints to decarbonisation. 

The pair say that the partnership aims to address the biggest barriers to electrification faced by fleets all around the world – capital availability and change management.

The cost of replacing diesel vehicles, installing new infrastructure or upskilling workers, they say can delay or prevent businesses from reaping the benefits and revenue opportunities of the EV transition.

Hitachi ZeroCarbon provides end-to-end solutions to decarbonise commercial vehicle fleets, helping them to accelerate electrification and sustainability, reduce battery risk and total cost of ownership, and generate new revenues.

Deploying data analytics and digital optimisation technologies, it provides the platform aimed at optimising battery performance and life, charge EV fleets and decarbonise sites and depots through a battery charging and management service model.

Ram Ramachander, chief executive officer at Hitachi ZeroCarbon, said: “Cost remains the greatest hurdle to fleet electrification.

“We're removing that barrier by giving fleet managers the confidence that decarbonisation is not only achievable, but financially viable.

“With access to financing through partners like MUFG, operators can accelerate progress toward their net zero targets while unlocking new revenue streams.

“By helping customers optimise their assets, we’re enabling long-term investment returns and creating meaningful commercial value.

“It’s a win-win, advancing both sustainability and profitability, and making fleet electrification a practical reality.”

MUFG Bank has a global network spanning around 40 countries. Outside of Japan, the bank offers an commercial and investment banking products and services to businesses, governments and individuals worldwide.

MUFG Bank’s parent company, Mitsubishi UFJ Financial Group (MUFG), is one of the world’s leading financial groups. Headquartered in Tokyo, MUFG has a global network with approximately 2,000 locations in more than 40 countries.

Hiroki Miyashita, managing director of business co-creation division at MUFG, said: “We have a proud history of working closely with Hitachi, and our shared values and business philosophies have driven fundamental transformation across countless industries.

“We are committed to addressing the barriers in the way of societal progress, and combining our expertise with Hitachi will help the commercial fleet ecosystem decarbonise at speed, and realise the real-time benefits of electrification far more quickly.”