VEV secures Jolt Capital investment to expand commercial fleet charging across Europe
By Eve
Commercial fleet electrification firm VEV has received investment led by Jolt Capital V, a fund targeting €1 billion to back around 20 European deeptech companies, with Finland's state investor Tesi co-investing. The deal sees Jolt and Tesi acquire Vitol's stake in the UK-headquartered company, which now serves 6,000 commercial electric vehicles across Europe, including over 5,000 in the UK. VEV will use the funding to enter France, Germany and the Netherlands, pursue acquisitions and develop its technology platform covering fleet strategy, charging infrastructure, energy supply and operations.
Why it matters: The investment signals growing institutional confidence in commercial fleet charging as a distinct market, with VEV's integrated model spanning infrastructure, energy and operations positioning it to compete for large fleet contracts across multiple European markets. The acquisition strategy suggests consolidation may accelerate among fleet-focused charge point operators as they seek scale to serve pan-European customers.