DLL and Iveco Group Launch Joint Venture for Sustainable Vehicles
In a significant step towards achieving sustainable mobility, leading global vendor finance company DLL (De Lage Landen International B.V.) has partnered with Iveco Group (EXM: IVG) to establish a joint venture aimed at supporting the energy transition in Europe. Both companies have successfully obtained the necessary regulatory approvals for this initiative, which is expected to widen access to low- to zero-emission commercial vehicles for businesses across the continent.
Strengthening Financial Backing through GATE
As part of the joint venture, DLL has acquired a 51% ownership stake in GATE, a former wholly owned subsidiary of Iveco Group. This strategic move is intended to enhance GATE's capabilities in promoting low-emission commercial vehicles within Europe. Iveco Group retains the remaining 49% of the share capital, ensuring that both entities contribute to the venture's goals effectively.
Accelerating the Transition to Sustainable Mobility
The new joint venture will provide GATE with increased financial support and expertise in asset financing. This will play a crucial role in accelerating the company’s growth strategy and facilitate its expansion efforts in the low-emission vehicle market. Through this partnership, they aim to deliver innovative rental solutions tailored to the unique needs of customers, ensuring access to sustainable mobility options.
A Vision for Expanding Operations
GATE’s mission revolves around establishing a greener future by offering rental services for low- and zero-emission vehicles. Their solutions are designed with a customer-centric approach, supported by a robust digital ecosystem and partnerships with premier service providers. Starting its operations in Italy in 2023, GATE plans to extend its reach to France and Germany. Furthermore, the joint venture aims to reach other European countries where DLL and Iveco Group currently operate, with aspirations to eventually provide sustainable solutions beyond the IVECO brand.
About DLL: A Champion of Asset Finance
Founded in 1969 and headquartered in Eindhoven, the Netherlands, DLL has established itself as a global leader in asset finance, with a managed portfolio exceeding EUR 47 billion. The company specializes in providing financial solutions across various industries, including Agriculture, Construction, Energy Transition, Healthcare, and Transportation, among others.
Commitment to Sustainability
DLL is committed to embedding sustainability in all its operations and has made it an integral part of its business strategy. By collaborating with equipment manufacturers, dealers, and distributors, DLL enhances access to essential equipment and technology. The company focuses on providing valuable insights that foster smarter, more economical usage while driving sustainable practices in the industry.
About Iveco Group: Driving Sustainable Innovation
Iveco Group N.V. (EXM: IVG) is at the forefront of the automotive industry, housing several brands recognized for their advancements in commercial vehicles. These brands, which include IVECO and FPT Industrial, are known for their innovative approaches to heavy and light-duty vehicles, powertrain technologies, and specialized defence equipment.
Frequently Asked Questions
What is the purpose of the DLL and Iveco Group joint venture?
The joint venture aims to facilitate the energy transition in Europe by amplifying access to low- to zero-emission commercial vehicles.
What percentage of GATE does DLL own?
DLL owns a 51% stake in GATE, while Iveco Group retains 49%.
Where will GATE's services be available?
Initially launched in Italy, GATE plans to expand its services to France, Germany, and other European countries where DLL and Iveco Group operate.
What industries does DLL cater to?
DLL provides financial solutions across various sectors, including agriculture, healthcare, transportation, and technology.
How does DLL plan to support sustainability?
DLL incorporates sustainability into its business strategy and focuses on empowering partners with insights and solutions for more economical and environmentally-friendly operations.
