Equipment Finance News
  • News
  • Event
  • Data
  • Features
  • Lender Directory
  • PodcastNew
  • WebinarsNew
    • Next Webinar (7/17): Technologies for your equipment financing business
    • Webinar Library
Log In
No Result
View All Result
  • Dealers
  • Lenders
  • Transportation
  • Agriculture
  • Construction
  • Materials Handling
  • Rentals
  • Compliance
  • Data Analysis
Equipment Finance News
  • News
  • Event
  • Data
  • Features
  • Lender Directory
  • PodcastNew
  • WebinarsNew
    • Next Webinar (7/17): Technologies for your equipment financing business
    • Webinar Library
No Result
View All Result
Equipment Finance News
No Result
View All Result

Electrada growing commercial electrification through relationships

Charging manufacturer backed by $33.9M from BlackRock Climate Infrastructure fund

Johnnie Martinez IIbyJohnnie Martinez II
July 15, 2024
in Transportation
Reading Time: 5 mins read
0
Share on FacebookShare on LinkedIn

Commercial vehicle charger manufacturer Electrada continues to cultivate relationships with dealers, lenders, OEMs and energy companies. 

Electrada’s partnerships with lenders such as Mitsubishi HC Capital (MHCC) and Daimler Truck Financial Services (DTFS) that already have relationships with equipment dealers and lenders helps create a bundled as-a-service solution with Electrada’s charging-as-a-service (CaaS) solution, Electrada Chief Executive Kevin Kushman told Equipment Finance News. 

“MHCC has longstanding equipment finance relationships on the vehicle side with dealers, OEMs and customers, and the same thing applies with DTFS, which is a great partner of ours,” he said. “When we look at those groups, we try to leverage those and essentially create a bundled solution with them, so they’ll take care of equipment financing on the vehicle side.” 

Through the bundled solution, Electrada can provide a CaaS program to MHCC and DTFS customers, which further develops its as-a-service models, Kushman said. Electrada’s charging stations also provide MHCC and DTFS customers with a fixed-cost solution to commercial charging. 

“We come in with a holistic, totally capitalized infrastructure program that matches exactly what the vehicle rollout program looks like,” he said. “It’s essentially creating a transportation-as-a-service through the combination of two trusted partners doing their own thing very well.”

In addition, Electrada growing commercial electrification through relationships
(Courtesy/Electrada)

Differing from competition 

While Electrada competes against firms including ChargePoint, WattEV and Zeen Solutions, its business model fits better for partners like DTFS and MHCC that already have relationships with dealers and lenders, Kushman said. 

“One of the things you might have noticed from others in the market that are doing charging or doing EVs, [is they] try to bundle the vehicle and the charging into the same relationship,” he said. “They have use cases where that applies, but what we’ve purposely stayed away from was trying to disaggregate the relationship that customers have with their dealers or financing organizations.” 

A $33.9 million investment from BlackRock’s Climate Infrastructure fund has added stability to Electrada’s capital-intensive model as other CaaS and EV firms go out of business, Kushman said. 

“We built Electrada as a single-purpose entity to go at those most critical electrification-needy fleets and do it where we take on all the technology, capital, operation, maintenance, implementation and tech risk, and basically hand them a fuel contract,” he said.  

“That was the rationale for pursuing and then ultimately linking up with Blackrock’s Climate Infrastructure fund as our primary investment sponsor, he said. “We have plenty of capital to go out and serve some of the larger fleets in the country doing this.” 

Electrada also uses Charlotte, N.C.-based Duke Energy’s microgrid implementation as it targets the transition to a mobility microgrid. The microgrid includes every DC and AC type charger that Electrada seeks to deploy. 

Navigating EV ecosystem 

To meet customer demand and maximize benefits, Electrada continues to navigate full mandates, partial mandates and other costs, Kushman said. 

“If we have a customer that has a national footprint, like a Comcast or a Red Bull, we’ll go in and work with them to locate where mandates exist, where the lowest cost of power exists, the lowest cost of construction and the quickest integration opportunities with utilities,” he said. “Those tend to be Southeast U.S., Mid-Atlantic, some places in the Northeast such as New York, California and then the Pacific Northwest.” 

The Pacific Northwest is attractive to Electrada due to lower power and fuel costs, Kushman said. 

“If you think about the baseload fuel source in the Pacific Northwest is oftentimes hydro, which is very low cost,” he said. “That embedded cost of fuel rides through our model and depresses the cost per mile almost naturally.” 

Visit the Equipment Finance News Lender Directory here. The directory lists banks, captives and independent lenders. Lenders are invited to add and update their own company details to the directory to provide dealers with the most up-to-date information available. 

Tags: commercial financingDaimlerelectric vehiclesequipment financeMitsubishi HC Capitaltechnology
Previous Post

Used construction equipment values fall amid rising inventories

Next Post

Ag equipment auction values see biggest spread since 2015

Related Posts

Truck OEMs ‘still bullish’ on EV market despite setbacks
Transportation

New York EV truck incentives create window of opportunity

July 18, 2025
Driver speaks to fellow driver from the cab of his truck as he waits in Dover, U.K., on Tuesday, Dec. 22, 2020. British Prime Minister Boris Johnson said he's trying to re-open trade routes to France "as fast as possible" after a day of cross-Channel political bartering failed to end the chaos at the U.K.'s busiest port.
Transportation

Used Class 8 truck prices rise 16% YoY

July 16, 2025
New Mercedes trucks and vans at a Daimler AG truck center in Kalbach, Germany, on Thursday, Feb. 4, 2021. Daimler is moving ahead with plans for an initial public offering of its sprawling heavy-truck unit in what could be one of Germany’s largest share sales ever.
Transportation

Daimler Truck North America laying off 2,000 workers as sales drop

July 16, 2025
Next Post
Agriculture - Combine

Ag equipment auction values see biggest spread since 2015

Proud Member Of

Check Out Our Industry Event

Stay Informed With Our 8 Newsletters

The Dig Podcast

Dealer Operations

Dakota Financial, A digital display representing an AI-powered neural quantum processor in the Samsung Electronics Co. hall at the IFA Consumer Electronics and Home Appliances trade fair in Berlin, Germany, on Thursday, Aug. 31, 2022. Inflation slowed less than expected in Germany, offering European Central Bank officials a partial picture of the region’s price pressures as they judge whether to raise interest rates again.

Build vs buy: How equipment dealers, lenders take on new tech

July 18, 2025
4Rivers Equipment has partnered with FAE to become the exclusive dealer of FAE’s PT dedicated tracked carriers in New Mexico and Colorado

John Deere dealer 4Rivers Equipment adds FAE products

July 15, 2025
US farm recovery not expected until 2026 as crop prices stay low

Dealers offer longer terms, skip payments amid farmer woes

July 7, 2025
  • About Us
  • Advertise
  • Contact Us
  • Privacy Terms
  • ADA Compliance

 Manage Cookie Consent

Connect with us

© 2025 Royal MediaRoyal Media

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • News
    • All News
    • Dealers
    • Lenders
    • Transportation
    • Agriculture
    • Construction
    • Material Handling
    • Rentals
    • Compliance
    • Data Analysis
  • Event
  • Data
  • Features
  • Lender Directory
  • Podcast
  • Webinars
    • Webinar Library

© 2025 Royal MediaRoyal Media

THIS WEBSITE USES COOKIES

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “I CONSENT”, you consent to the use of ALL the cookies.

Cookie settingsI CONSENT

Review our Cookie Policies
.
Manage Cookie Consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
Save & Accept