VEV Raises Funds to Expand Fleet Charging Across Europe

VEV, a firm specializing in commercial fleet electrification, has secured new investment. The funding round was led by Jolt Capital, with Finland’s state-owned company Tesi also participating.

The company will use these funds to expand into new European markets. Its current focus includes France, Germany, and the Netherlands.

New markets for fleet services

VEV provides a full package of electrification services. This includes fleet strategy, charging infrastructure, and energy supply. It also covers operational support for businesses.

Currently, the company serves approximately 6,000 commercial electric vehicles in Europe. More than 5,000 of these vehicles are located in the UK.

Managing energy across sites

The system relies on a platform called VEV IQ. It acts as a central manager for charging and energy. Fleet operators get real-time control over vehicles and chargers.

This platform is active at more than 600 sites. It serves sectors like transport, logistics, and waste management. It helps manage energy flow between vehicles and the power grid.

Investors see a growing need

Jolt Capital notes that commercial transport is reaching an inflection point. Managing energy intelligently is now a key challenge for fleets. VEV is one of few platforms offering this in Europe.

The firm already powers more than 20% of the UK heavy-fleet energy market. VEV’s CEO states that integrating infrastructure and energy is critical for scalability.

According to Charged EVs, this investment signals a broader shift. Companies are moving beyond just buying electric vehicles. They are focusing on how those vehicles fit into the wider energy system.