EV LEASING broker specialist DriveElectric has secured significant investment from Sumitomo Corporation, the trading and business investment company headquartered in Japan.

DriveElectric says it will enable the company to develop and expand its support services in the fields of electrification, digitisation and energy services.

Sumitomo Corporation, founded in 1919, is a leading Fortune 500 global trading and business investment company. It also jointly owns Sumitomo Mitsui Auto Service, a significant automotive leasing player in the Japanese market. The amount of investment was not disclosed.

With the UK due to phase out the sale of new petrol and diesel cars and vans by 2030 there is an urgent need to ensure that businesses and motorists can make the switch to electric vehicles as quickly and as easily as possible. DriveElectric is now able to scale up its level of expert service to meet rapidly increasing customer demand, as well as to expand the technology offering of the business.

Mike Potter, managing director, DriveElectric

DriveElectric has been the leasing broker leader in the EV field since 2008 and operates some 5000 pure EVs in the UK with a specialism in electric vans. It also has business marketing partnerships with Lloyds Banking Group through Lex Autolease and utility provider EDF.

Sumitomo Corporation is delighted to be part of the DriveElectric business and contribute to the UK’s journey towards Net Zero by promoting transition to zero emission mobility. Also, we look forward to creating additional value to customers and society by developing new offerings integrated with digital and energy services.

Takashi Yamana, CEO, Sumitomo Corporation Europe

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