Thirsty EV leasing firms hunt for more funding
The latest news from the world of EVs
Hello, I’m Tom Riley and welcome back to The Fast Charge, a British EV newsletter.
Top story in today’s edition… Are EV leasing schemes under pressure for more capital, the EU won’t back down on battery tariffs, and new statistics suggest an 80% increase in charger rollout pace.
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EV leasing firms under pressure to raise
Background: Last week Sky News reported that Legal & General decided not to invest any further into the EV subscription company Onto. Previously, L&G invested tens of millions into Onto – £22.5 million being injected as recently as last month – though it remains a large shareholder in the company.
Mounting losses… Taking a look at Onto’s accounts, it seems L&G’s decision could have big consequences. In their most recent annual report up to December 2021, it indicated a loss of nearly £16 …
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