“NuGen is committed to building a cleaner, more reliable, and lower-cost energy grid. Financing transportation electrification and infrastructure is a key part of achieving that vision,” said Michael Baer, Managing Director of eMobility & Analytics at NuGen.
“Our collaboration with NorCal Logistics and Motiv Electric Trucks showcases how our deep-rooted experience in the transportation, finance, logistics, and clean technology sectors can come together to drive real progress. We’re proud to help deploy these electric FedEx trucks and look forward to accelerating fleet electrification across the country.”
NorCal Logistics, a woman-owned FedEx contractor and leading pick-up and delivery service provider with nearly 25 years of experience in Northern California, partnered with NuGen to secure bridge funding and additional turnkey financing to support adding electric delivery trucks into their FedEx ground routes.
The American-made, 100% electric Class 6 step vans were manufactured by California-based Motiv Electric Trucks and serve as the first electric vehicles in NorCal Logistics’ fleet.
“Adding electric vehicles to our fleet is a major step forward in NorCal Logistics’ long-term commitment to playing our part in building a more sustainable future for the next generation,” said Liz Litsas, CEO & CFO, NorCal Logistics.
“We're proud to be reducing our carbon footprint while continuing to deliver for our customers. We appreciate NuGen’s partnership; their team’s deep experience in America’s clean energy sector played a critical role in helping us move this initiative from concept to reality.”
Founded in 2009 and headquartered in the San Francisco Bay Area, Motiv is a leading manufacturer of medium duty, zero-emission electric trucks and buses. Motiv produces a range of vehicles; including step vans, shuttle buses, box trucks and work trucks, all of which eliminate tailpipe CO2 emissions and particulate matter, have a lower Total Cost of Ownership compared to gas trucks, and offer drivers and passengers a more comfortable, healthier and safer ride.
“NuGen is filling a critical need in the electric truck industry,” said Scott Griffith, CEO of Motiv Electric Trucks. “While there are numerous incentives available for fleets, there is often a significant time gap between when trucks are ordered, when they are delivered and when incentive payments arrive. By filling that gap, NuGen will enable more fleets to fully take advantage of financial incentives that lower the cost of vehicles, resulting in faster adoption nationwide.”
