Investment holding company Sakhumnotho Group Holdings has partnered with start-up Everlectric to deploy global electric vehicle (EV) technology, coupled with a disruptive commercialisation model, in the logistics value chain in South Africa.
Sakhumnotho has long invested in the energy sector through its energy division, Sakhumnotho Energy, and in recent years the group has sought opportunities to invest in and expand access to clean energy in order to grow its portfolio in this sector.
While the company does not ordinarily partner with start-ups, it says it “was excited by the opportunity to partner with an innovative company that was offering the full, green ‘last mile’ logistics services to a varied range of companies”.
Sakhumnotho has entered into binding agreements to acquire up to a 30% interest in Everlectric.
Through an innovative bundling of commercial EVs, a network of charging infrastructure, free electricity (fuel) and an enabling digital Internet of Things platform, Everlectric reduces the barrier of adoption for clients.
The Everlectric EV solution is operationally competitive when compared with combustion engine vehicles for existing logistics applications, with significant cost and environmental benefits, targeted at an exceptionally large primary market segment.
Key to Everlectric’s innovative proposition is its 100% carbon-free service offering, which is made possible through the use of solar technology and, where solar is not viable, the company offsets 100% of its carbon emissions as it journeys towards a greener energy-efficient logistics solution.