Mexican electric mobility company VEMO secured about $64M to expand its electric vehicle fleet and charging network. The funding, led by Beel Credit, Banco Covalto, Kapital, and Promecap, will help expand VEMO’s leasing and fleet management services.
Founded in 2021, VEMO offers end-to-end electric mobility solutions, including EV leasing, charging stations, and fleet management. VEMO helps independent drivers transition from gas-powered to electric vehicles with a simple and complete system that makes fleet electrification easier. VEMO has deployed over 550 charging stations to date across Mexico and operates one of the largest EV ride-hailing and last-mile delivery fleets in Mexico.
With this investment, VEMO aims to expand its electric fleet, install more charging infrastructure, enhance its fleet management technology, and expand VEMO Impulso, its car leasing program for ride-hailing drivers.
VEMO partners with major global players like Siemens, Uber, Santander, and BYD to help businesses and drivers reduce fuel costs,lower emissions, and accelerate the use of electric transport in Mexico.
Read more on Global Energy.
