Splend to double EV fleet with $20 million funding from Clean Energy Finance

Splend, a provider of subscription vehicles to rideshare drivers, has snaffled $20 million from the Clean Energy Finance Corporation to electrify its fleet and speed up the decarbonisation of cars on Australian roads.

The funding allows Splend to double its electric car fleet to about 1,000 vehicles.

More electric vehicles (EVs) in the Splend fleet will enable the company to enter into more short- or long-term hire agreements.

“Decarbonising Australia’s car fleet and transitioning fleet vehicles to EVs represent an important opportunity to further accelerate the decarbonisation of the transport sector,” said CEFC’s chief executive officer Ian Learmonth.

“High-kilometre drivers like those in the rideshare services industry can lead the electrification of Australia’s transport sector, which will also require increased investment in our charging infrastructure to meet demand as momentum in the transition to EVs builds.”

Learmonth said that the distances travelled by rideshare vehicles are significant and a transition to electric vehicles in the Splend fleet would assist in slashing transport emissions.

“This is an exciting change to the way Australians can enjoy the convenience of rideshare services while having a real impact towards achieving zero emissions in our transport sector,” he said.

Splend CEO Chris King said the company wants more rideshare drivers to use EVs to make the sector more sustainable.

“With over 100,000 rideshare vehicles across Australia, of which only 1% are EVs, transporting millions of Australians every week, the immediate priority is to focus on the decarbonisation of this segment,” King said.

“We are delighted to work alongside CEFC as we work to achieve our global fleet target of 10,000 EVs by 2024.

“After commencing the initial rollout of 500 EVs in Sydney, starting in Q4 2022, Splend is now the single largest EV operator in Australia. Since then, our EVs have travelled over 6.2 million kilometres and saved over 1,000 tonnes of CO₂ tailpipe emissions.”

This article was first published by The Mandarin.