The federal government plans to slash planet-warming greenhouse gas emissions from vehicles by 2040, and a new Canadian startup wants in on the action.
Canada’s transition to zero-emission vehicles (ZEVs) is inevitable — Ottawa has set a target aiming for 100 per cent of medium- and heavy-duty vehicle sales to be ZEVs by 2040, “where feasible.” But making the switch to emission-free vehicles is not without its challenges, namely finding the money to help businesses trade gas-guzzling vans and trucks for ZEVs.
Enter 7 Generation Capital (7Gen), a Vancouver-based startup that provides end-to-end services for medium- and heavy-duty vehicles like delivery trucks, fire trucks and garbage trucks. The business, launched in January 2020, helps companies with leasing ZEVs; installing, financing and managing charging infrastructure; project feasibility; and costing and operational software.
Other Canadian companies offer similar solutions for a range of different EV customers. Jim Pattison Lease and Swtch lease EVs and offer end-to-end charging and energy management solutions, respectively, while 7Gen covers financing, logistics, vehicles and charging infrastructure, and is “technology agnostic,” meaning the company can work with any vehicle manufacturer or charging provider.