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Louélec receives $3M from Desjardins to bring its electric carsharing fleets to businesses

December 11, 2023

Montreal, December 11, 2023 – Louélec, the leader in electric carsharing fleet management, is receiving $3 million in funding from Desjardins to support its growth.The money will allow the company to roll out its plan to acquire 400 new electric vehicles so it can provide innovative solutions to facilitate access, management and maintenance of business vehicle fleets.

Louélec, the forerunner in electric vehicle fleet management, is moving forward with its bold, clear ambitions in the current energy transition context. It successfully deployed over 400 electric vehicles in Montreal and Toronto to allow Uber and taxi drivers to switch to electric transportation at lower cost, and the company is now committed to playing a pivotal role in reducing businesses' carbon footprint.

"Our mission is to cut big cities' carbon footprint while promoting sustainable driving, by making the energy transition easier for professional drivers and business fleets," says Léo Bouisson, Co-Founder and CEO of Louélec. "With 400 more vehicles, we can help dozens of companies turn to electric fleets, lowering carbon emissions by more than 3,000 metric tons in 1 year."

"This funding aligns with Desjardins's extensive efforts to support the energy transition and sustainable mobility," explains Jean-Yves Bourgeois, Executive Vice-President of Business Services at Desjardins Group. "Electric transportation is critical to reducing greenhouse gas emissions. It also opens the door to responsible innovation and economic development for Quebec businesses. Louélec's ambitions are proof. We're very proud to have been with them from the start and to be a part of this next stage in their growth."

Desjardins Group has installed nearly 300 charging stations in the parking lots of caisses, credit union branches and office buildings in Quebec and Ontario.

Innovative solutions for a smoother energy transition

Louélec is staying at the vanguard of the energy transition by investing in research and development for innovative solutions such as vehicle sharing by several drivers or users at multi-unit housing, universities and hotels, the use of artificial intelligence to optimize equipment maintenance, and the rollout of smart charging solutions. The company is dedicated to providing state-of-the-art technology to meet the market's changing needs and the challenges of sustainable mobility.

"We want to help our clients make their fleets more sustainable by providing solutions tailored to their specific needs," adds Bouisson. "Louélec is looking to transform the way businesses operate and manage their vehicle fleets through an approach built on sustainability."

Desjardins's support helps Louélec become a trusted partner for businesses transitioning to cleaner mobility.

By offering subscription and maintenance solutions specially designed for electric vehicles, the company is actively working to speed up the energy transition and cut CO2 emissions.

Louélec will enable businesses to maximize their energy efficiency thanks to next-level management tools. The goal is to optimize routes and charging cycles, reduce energy consumption and comply with stricter environmental standards.

About Louélec

Louélec aspires to contribute to a better tomorrow by paving the way for cleaner, more efficient mobility. The company firmly believes that managing fleets of electric vehicles will be essential in creating a more sustainable environment for future generations. Louélec's commitment to the energy transition is deeply rooted in its mission to foster positive change in business mobility. With its innovative solutions and bold vision, Louélec intends to forge a future where mobility and sustainability go hand in hand.

For more information (media inquiries only):
Léo Bouisson
Co-Founder/CEO, Louélec