Local businessmen secure millions in investment for electric vehicles

Business / Thu 10th Aug 2023 at 04:30am

LOCAL businessmen, Adam Ridgway and Mark Harman, have successfully secured a staggering £123 million in funding to spearhead the decarbonisation of the UK’s last mile delivery industry. The significant investment will be utilised to deploy a fleet of cutting-edge electric vehicles (EVs), revolutionising the way goods are transported across the country.

The last mile delivery industry plays a crucial role in ensuring the seamless flow of goods from distribution centres to end consumers. However, this sector has long been associated with carbon-intensive practices due to the reliance on traditional fossil fuel-powered vehicles. The visionary efforts of Adam Ridgway aim to address this challenge head-on by introducing environmentally friendly alternatives.

Mark Harman, UK Director of ONE MOTO Technologies a UK Headquartered EV start up with operations in 10 countries with their Global HQ in Dubai, UAE have been focusing on the last mile industry. The substantial £123 million funding allows ONE MOTO to offer financing to fleet operators throughout Europe, with a focus on local businesses, delivery platforms and the gig economy.

“We’ve faced tremendous industry challenges in the last-mile and delivery sector as delivery platforms, operators and gig-delivery businesses simply do not want to take on the vehicle assets on their balance sheets, we have finally opened up a solution for these issues. Gig workers are now able to lease their vehicles from just £3 per day – and with the average pay per delivery of £4.70-£6.50, means the gig workers have far more revenue potential.”

This groundbreaking initiative aims to set a new benchmark for eco-friendly last mile deliveries across the United Kingdom. The adoption of electric vehicles will not only contribute to the nation’s ambitious climate change goals but also promote the transition to a cleaner and more sustainable transportation system.

By leveraging their extensive industry expertise and network, Adam Ridgway, the CEO of ONE MOTO Technologies from Bishop’s Stortford with residence in Dubai for the past 15 years, are collaborating with leading automotive manufacturers, technology providers, and logistics partners to develop an integrated ecosystem for electric last mile deliveries. This ambitious undertaking will not only involve the production of cutting-edge EVs in the UK but also the establishment of charging infrastructure, implementation of smart logistics solutions, and optimisation of supply chain processes to ensure maximum efficiency.

The transformative impact of this initiative is expected to go beyond environmental benefits. By embracing electric vehicles, the last mile delivery industry will witness a paradigm shift towards cost-effectiveness, operational efficiency, and enhanced customer experience. These advancements will pave the way for a more sustainable and prosperous future for businesses, consumers, and communities alike.

Signing the unprecedented deal of £123m with a leading financier in London, Mark Harman and the team are poised to lead the charge in transforming the UK’s last mile delivery industry. By embracing this bold vision and capitalising on the opportunities presented by electric mobility, the local businessmen aim to set an inspiring example for the UK start up scene, demonstrating that environmental sustainability and economic growth can go hand in hand.

“I’m calling out for local businesses who are wanting to electrify their fleets, reduce costs, increase productivity to get in touch, we have £123m to deploy, let us support your business”.

ONE MOTO, an impact-driven, multi-award-winning EV player which is building a HardTech meets FinTech EV ecosystem with presence across five continents, 10 countries including; UAE, Chile, Nepal, India, Ethiopia, Jordan, Bahrain with another 26 countries in conversation is spearheading change whilst others talk. Adam Ridgway an ex-student of The Bishop’s Stortford High School 1992-1999 has been invited to talk at COP28 with prominent country leaders held in Dubai in November this year to discuss the positive impact of sustainable mobility.

Ridgway commented, “This is a monumental milestone for our expansion road map pan-Europe. With the support of the finance deal, we expect to deploy up to 30,000 vehicles across the UK in the next 12 months. This harnesses our conversations with UK Trade & Investment (UKTI) to open our first European assembly plant. ONE MOTO is supporting leading last-mile food delivery platforms, independent outlets and enhancing the rider welfare through data-rich AI to optimise routes, zones and pay.”

“Early movers will always have the advantage, but the ‘decision’ to make the commitment first isn’t always forthcoming when considering the environment, yet. However, all operators are looking at the commercial viability and when backed up with big data. We’ve proven a faster path to profitability,” concluded Ridgway.

Specialising in last mile electric vehicles for commercial and private use,with their delivery motorcycle and vansONE MOTO have customers including; Amazon, Avis, Delivery Hero, Carrefour amongst others Internationally, having grown the business through distribution networks. 

Harman continues, “Our current successes have been a result of ensuring vehicles are accessible to customers and we do this through local automotive and retail dealerships. We are always open to speak to the right partners and expand our offering with like-minded public and private sector collaborations, we are able to achieve new breakthroughs and contribute positively towards the UK economy. 

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3 Comments for Local businessmen secure millions in investment for electric vehicles:

2023-08-10 10:58:21

Last mile or local businesses might save billions if they used cargo bikes instead of the massive extremely heavy and large carbon footprint vans we currently see on the road. EVs might not give out emissions on the street but do pollute in production and in getting the lithium and other metals needed for the batteries. Now that China is putting restrictions on it's exports of important metals it shows that EVs and our energy security are vulnerable. The uk probably could supply a switch to cargo bikes and bicycles for individual people but not large EV vans and cars. Larger vehicles could use the JCB hydrogen combustion engines if we moved to a hydrogen economy.

Guy Flegman
2023-08-10 11:32:08

No doubt they will deduct the costs from the slave wages that are paid to the people that do this work. Also most last mile delivery workers (read digital slave trade) are self employed purely to offload the responsibility from the online company that is behind them.Be interested to see where this £121 mil is spent. No doubt they will come up with a new way of fiddling the numbers to make it looks like this works. You would do more for the environment by simply reducing the packaging on items.

2023-08-10 11:45:32

This has it all, zero hour, zero workers rights for delivery, climate insanity and EV , why not talk about the productive businesses in Harlow which actually make things rather than dubious financial models with large headline numbers

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