23 October 2019
John Flynn, owner of Fulham Cab Company, said:
“I first bought LEVC’s TX back in March 2018 and since then I’ve been looking to add more vehicles to my fleet due to the fact they are so popular with both drivers and passengers. I found Octopus’ financing solution to be the ideal way to make this happen due to its flexibility. Ultimately that’s a huge benefit when you’re running the UK’s largest electric taxi fleet.”
The financing solution from Octopus, which was recently named the Innovative New Product of the Year at the Commercial Fleet Awards, is available to a range of commercial fleet operators, not just taxis. It offers improved cash flow by matching repayments to rental income and usage, while also balancing the repayments across the portfolio of vehicles funded, reducing financial volatility and helping budgeting.
In addition to financing, Octopus’ TaaS solution includes real-time fleet data, enabling fleet managers and owners to maximise the operational efficiency of their vehicles. LEVC anticipate this to be a highly popular finance solution for their newly announced light commercial van due for release in Q3 2020.
Daniel Saunders, Investment Director of Octopus, added:
“We’re really proud to partner with John and Fulham Cabs to help him electrify his fleet and become the largest electric taxi operator in the UK. It’s a huge achievement and we desperately need others to go green if we are to meet our wider goals of limiting carbon emissions to net zero by 2050 and improving air quality. Our innovative model is an easy way for forward-thinking fleet operators to switch to zero-emission vehicles and help to power the clean vehicle revolution in Britain.”