Louélec gets $3 million for EV car-sharing fleet businesses

MONTREAL — Louélec, an electric car-sharing fleet management company, is receiving $3 million from Desjardins to support its growth.

The company said that the money will allow it to acquire 400 new electric vehicles to facilitate access, management, and maintenance of business vehicle fleets. Louélec has deployed over 400 electric vehicles in Montreal and Toronto to allow Uber and taxi drivers to switch to electric transportation at lower cost.

“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.”

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

“This funding aligns with Desjardins’s extensive efforts to support the energy transition and sustainable mobility,” said Jean-Yves Bourgeois, executive VP 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.”

Louélec is investing in research and development for 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. By offering subscription and maintenance solutions designed for EVs, the company said it is working to speed up the energy transition and cut CO2 emissions.