EV Battery Rental Programs

Goals

To identify programs in the US similar to Proterra that lease, rent, or swap EV batteries in the US and Europe for Trucks or EV cars to reduce the overall cost of the vehicle.

Early Findings

Proterra

  • In 2019, Proterra, in partnership with Mitsui, invested $200 million in a new EV battery facility for its rental program.
  • The facility aims to "lower the upfront costs of zero-emission buses and put Proterra electric buses at roughly the same price as a diesel bus."
  • The battery is leased over a 12-year period, during which Proterra is expected to replace the battery after the 6th year of utilization.
  • The leasing program can also be combined with other financing options.
  • Proterra currently services over 100 buses through its battery leasing program.

GPEKS

  • GPEKS offers clients to "acquire EVs with an immediate payback and total savings of 10% or more per month compared to what it would cost to continue using a conventional vehicle" through their battery rental program.
  • Leases usually are offered for 3 to 5 years, with commercial leases usually going up to 6 - 8 years.
  • GPEKS provides solutions that allow "corporate fleet owners to transition their fleets to electric fleets today at lower cost than if they continued to operate ICEVs."

Renault

  • Renault offers a specialized EV battery rental program for its ZOE customers.
  • The program allows customers to lease batteries in order to be able to freely upgrade to more efficient options later on, as the vehicle initially comes with a 22kW battery.
  • There have been over 100,000 customers that have taken advantage of the program, with 93% of ZOE buyers opting for leasing the battery.
  • The company has two specific renting options. The first "is a pay-as-you-drive system whereby the rate is calculated as a function of the distance actually covered."
  • The second options is reserved solely for retail customers and offers unlimited mileage.
  • Customers can also lease the vehicle and the battery together for $179 per month.

Proposed next steps:

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