We are thrilled to announce our strategic partnership with fleet and charging management specialist, Bluedot. This collaboration marks a significant step forward in enhancing electric fleet financing and operational solutions. By combining Zeti's flexible financing options with Bluedot's advanced fleet management tools, we aim to make EV adoption more accessible and seamless for fleet operators. Together, we are committed to supporting the transition to cleaner, more sustainable transportation solutions.
Furthermore, Fleet Management Weekly recently featured our own Jon Stafford, SVP of North American Sales, in a video presentation. The video highlights Zeti's commitment to helping operators find affordable, available capital for asset financing through our network of lenders.
Finally, Jon Stafford will be speaking at the Building Owners and Managers Association of Greater Baltimore, Inc. Announces January 2025 Education Program on EV Charging: Safety and Management.
Suite by Monitor has outlined several key outlooks for 2025, focusing on the implications of the Trump administration, Section 1071 of the Dodd-Frank Act, innovation, automation, and rising Treasury yields. The article states that companies in the equipment finance sector are striving for technological advancements to gain a competitive edge. However, they face challenges such as resistance to change, regulatory constraints, and the complexities of integrating new technologies. Manufacturers are under pressure from rising input costs, labour shortages, and increased competition. Automation is seen as a solution to enhance productivity and reduce long-term expenses. Creative financing solutions are essential to help manufacturers adopt transformative technologies without straining their cash flow. Regarding economic policies, the Trump administration's economic agenda includes tariffs to reduce dependence on foreign production, tax cuts to incentivise domestic investment, deregulation to ease operational constraints, and lower interest rates to facilitate capital access. These policies aim to stimulate job creation and growth in the automotive, technology, and heavy manufacturing sectors. Section 1071 of the Dodd-Frank Act mandates financial institutions to collect and report data on credit applications from small businesses, including those owned by women and minorities. The Trump administration aims to roll back certain provisions of the Dodd-Frank Act, which could affect the implementation and enforcement of Section 1071. This could lead to increased compliance costs and administrative burdens for commercial equipment finance companies. Overall, the article highlights the opportunities and challenges faced by the equipment finance industry in 2025, emphasising the need for innovation, creative financing, and navigating regulatory changes.
Cox Automotive's 2025 forecast is optimistic, predicting new vehicle sales to reach 16.3 million units (a 3% increase vs 2024). Economic momentum is building, with reduced tax policy uncertainty and stock market growth. Furthermore, the risk of a recession in 2025 is lower, with expected growth of 2.6%. Consumer sentiment is improving, supported by stabilising interest rates and a steady job market. Vehicle affordability remains a challenge, but improvements are expected in 2025. Credit availability is expanding, auto loan rates are declining, and approval rates are increasing, enabling growing demand. Sales of EVs are expected to grow, accounting for 1 out of every 4 vehicles sold in 2025. Advancements in battery technology, supportive government policies, and increasing consumer demand for sustainable transportation options drive this growth. Automation and technological advancements are seen as solutions to enhance productivity and reduce long-term expenses. Overall, Cox Automotive's forecast for 2025 is optimistic, with expectations of market growth, improved affordability, and increased sales of EVs.
The Equipment Leasing & Finance Foundation (ELFF) report highlights the innovations, challenges, and opportunities in the American construction industry for 2024. The study, part of the Vertical Market Outlook Series, identifies factories, bridges, and roads as the winning sectors, while warehouse and office construction face some challenges. Key issues include government infrastructure investments through legislation like the Infrastructure Investment and Jobs Act, high interest rates, and inflationary pressures that increase equipment, material, and labour costs. The report also notes tighter lending standards, lower risk tolerance by lenders, and increased financing costs. High levels of construction bankruptcies and loan delinquencies are prevalent, and there is notable M&A activity, with private equity firms purchasing construction-related companies. Technological investments are crucial, with advancements in AI, big data, automation, digitisation, IoT, augmented reality, building information modelling, cloud-based technology, additive manufacturing, 3D printing, drones, aerial imaging, and new battery technology. These innovations are essential for enhancing productivity and addressing industry challenges. Overall, the ELFF report provides valuable insights for equipment finance professionals, helping them navigate the evolving landscape and capitalise on emerging opportunities in the construction sector.
EVgo has announced it has secured a $1.25bn loan from the US Department of Energy (DOE) to expand its EV charging infrastructure. This loan, part of the DOE's Title 17 Clean Energy Financing Program, will support the deployment of approximately 7,500 new fast-charging stalls across America. The expansion aims to triple EVgo's network footprint by 2029, bringing its total to at least 10,000 fast-charging stalls. The project will create over 1,000 jobs, including roles in construction, engineering, and maintenance. The new chargers will be compatible with all fast-charging EVs and will include high-power 350kW DC fast-charging equipment. This initiative is part of the Biden-Harris Administration's efforts to enhance the national EV charging network and support the growing number of EVs on the road. EVgo highlighted that this public-private partnership will help scale operations to meet the increasing demand for EV charging infrastructure. The project is expected to bolster consumer confidence in EVs by ensuring convenient and reliable access to charging stations nationwide.
The Equipment Leasing & Finance Foundation (ELFF) reported that confidence in the equipment finance industry reached a new 3-year high in December 2024, with the Monthly Confidence Index for the Equipment Finance Industry (MCI-EFI) rising to 68.8 from 67.5 in November. This index reflects the prevailing business conditions and future expectations as reported by key executives in the $1.3 trillion equipment finance sector. Key findings include that 57.1% of executives expect business conditions to improve over the next 4 months, up from 43.3% in November. Additionally, 53.6% believe demand for leases and loans to fund capital expenditures will increase, compared to 48.3% the previous month. Employment expectations are also positive, with 46.4% of executives planning to hire more employees, up from 44.8% in November. The assessment of the American economy showed 7.1% of leaders rating it as excellent, an increase from the previous month. Wintrust Specialty Finance noted that the industry has adapted to changes in liquidity, volatile swap rates, and higher delinquency and credit charges. The post-election environment and Federal Reserve rate cuts have provided more certainty for businesses to invest confidently. Overall, the ELFF report indicates a positive outlook for the equipment finance industry in 2025, with expectations of improved business conditions, increased demand for financing, and stable employment growth.
The State of Michigan has partnered with Electreon, a leader in wireless EV charging, and Xos, a commercial EV manufacturer, to implement wireless charging solutions for electrified delivery vehicles in Detroit. This initiative builds on the success of the nation's first public EV-charging roadway, aiming to reduce vehicle downtime and enhance business efficiency. Electreon will extend its wireless EV charging network in Michigan, integrating its technology into Xos Stepvans. This collaboration will demonstrate the value of wireless charging and its potential to lower the total cost of ownership for commercial truck fleets. Additionally, new stationary wireless charging installations will be set up at a UPS facility in Detroit, enabling cable-free overnight charging. The project is supported by $200,000 in funding from the Michigan Mobility Funding Platform (MMFP), which promotes the real-world testing and deployment of mobility projects across the state. The MMFP, launched by the Office of Future Mobility and Electrification in partnership with the Michigan Economic Development Corporation (MEDC) and the Michigan Department of Transportation, focuses on encouraging EV adoption and building charging infrastructure. This partnership aligns with Michigan's Make it in Michigan economic strategy, which aims to invest in the state's people, places, and projects. The strategy emphasises creating good-paying jobs, developing a skilled workforce, and supporting mobility and electrification initiatives.
Redivivus and Re-New-Able Technologies have partnered to establish Illinois' 1st scalable lithium-ion battery recycling facility. Located in Manteno, this facility will process batteries, of any state of charge or health, from local businesses and OEM factories. This initiative aims to support in-state efforts to manage battery scrap at auto-wrecking yards and reduce logistics challenges by deploying modular Redi-Shred units near feedstock suppliers. Re-New-Able will combine its commitment to sustainable battery recycling with Redivivus' advanced recycling technology. The Redi-Shred process includes freezing, shredding, and neutralising damaged, defective, or recalled batteries, ensuring safe and cost-effective preparation for transport. This partnership is expected to set new standards for battery recycling, redefining material recovery, logistics, and environmental impact. The facility will contribute to creating a sustainable future for the battery industry by localising battery processing and minimising costs.
UCLA, in collaboration with Electreon, has secured $19.8m from the California State Transportation Agency’s Transit and Intercity Rail Capital Program to develop California's 1st wireless charging road. This project will enable UCLA's BruinBus fleet to charge while driving, significantly enhancing the efficiency and sustainability of campus transportation. The grant will support the installation of inductive charging coils beneath the road surface along key routes on UCLA's campus. These coils will wirelessly transfer energy to the buses as they pass over them, allowing continuous charging without the need for traditional plug-in stations. This technology aims to reduce downtime for charging and increase the operational range of electric buses. In addition to the in-road charging system, the project includes the expansion of UCLA's electric bus fleet, adding 8 new electric buses to the existing 5. The initiative is part of UCLA's broader efforts to transition to a fully electric transit system in time for LA's 2028 Olympic and Paralympic Games. This project represents a significant step towards sustainable urban mobility, reducing greenhouse gas emissions and promoting cleaner, more efficient public transportation.