PORTLAND, Maine & CAMPBELL, Calif .– (COMMERCIAL THREAD) – WEX (NYSE: WEX), a leading provider of financial technology services, and ChargePoint, a leading electric vehicle (EV) charging network operating in North America and Europe, announced their intend to extend their existing relationship to provide seamless integration of EV pricing for mixed fleets comprising of Internal Combustion Engine (ICE) vehicles. This expanded global partnership should not only provide customers with easy access to the largest public electric vehicle charging network for on-road charging needs, but also enable ‘depot’ and ‘home’ charging as well as the means to facilitate employee reimbursement.
“By expanding WEX’s relationship with ChargePoint, we plan to position the two companies to meet the full range of long-term needs of our customers as more and more companies evolve their fleets in an effort to tackle climate change, ”said Scott Phillips, president of Global Fleet at WEX. “As a leader in the commercial fleets industry for nearly four decades, our customers around the world rely on us to provide financial controls, powerful reporting, data solutions and secure payments that keep their drivers safe. on the road and at work, while managing expenses. WEX believes that partnering with ChargePoint will allow WEX to fully support any combination of EV and ICE vehicles our customers use. ”
WEX and ChargePoint intend to offer a robust end-to-end solution to help mixed fleets integrate on-road, in-depot and home charging solutions, including streamlined program enrollment, centralized reporting and billing. , real-time data on energy consumption to help the driver reimbursement of commercial electricity recharging and installation services. The companies expect to offer workplace and fleet depot charging solutions for customers looking to install on-site charging stations at workplaces and integrate them into their fleet operations as well. as charging solutions on private site.
“Our expanded partnership with WEX is a major step in helping fleets prepare for the future of electric mobility with convenient, cost-effective expense management and broad payment acceptance. Today, WEX and ChargePoint have an EV payment system on the market that allows WEX fleet customers to pay for electric charging sessions at thousands of locations on the ChargePoint on-demand network, ”said Rich Mohr, Global Vice President of Fleet at ChargePoint. “Enhanced end-to-end electric mobility solutions on the route, at the depot and at home easily help drivers when they need a recharge in North America and Europe. ”
Additionally, this growing relationship will allow drivers to locate and activate EV charging stations and authorize payments while providing fleet managers with consolidated billing and reporting and better visibility into vehicle usage. internal combustion engines and electric vehicles. Integrating this data is critical for mixed fleet customers as they continue to seek opportunities to further reduce their carbon footprint and simplify their complex reporting needs.
“As partners, WEX and ChargePoint plan to offer fleet managers the ability to integrate as many EVs into their fleet as they want, without any loss of visibility, financial control or power flexibility. Continued Mr. Phillips. “In doing so, we will help our customers evolve their fleets as new forms of transportation become available and as operating costs, environmental impact and other considerations affect their business imperatives.”
WEX (NYSE: WEX) is a leading provider of financial technology services. We provide payment solutions to businesses of all sizes across a wide range of industries, including fleet, corporate payments, travel and healthcare. WEX has offices in 14 countries and employs approximately 5,400 people worldwide. Learn more on LinkedIn, Facebook, Instagram, Twitter, and our corporate blog. For more information, visit www.wexinc.com.
ChargePoint creates a new refueling network to move people and goods with electricity. Since 2007, ChargePoint has been committed to making it easy for businesses and drivers to go electric with one of the largest electric vehicle charging networks and a comprehensive portfolio of charging solutions available today. ChargePoint’s cloud subscription platform and software-defined charging hardware are designed to include options for every charging scenario, from home and multi-family to work, parking, hospitality, retail and transport fleets of all types. Today, a single ChargePoint account provides access to hundreds of thousands of charging points in North America and Europe. To date, more than 92 million charging sessions have been delivered, with drivers connecting to the ChargePoint network every two seconds or less. For more information, visit the ChargePoint newsroom, the ChargePoint investor relations site, or contact ChargePoint’s North American or European press offices or investor relations.
Forward-looking statements made by WEX
This earnings release contains forward-looking statements, including statements regarding: expectations regarding the scope and extent of the future relationship between WEX and its counterparty, ChargePoint, and future growth opportunities for the relationship between WEX and this counterpart. All statements that are not statements of historical fact can be considered as forward-looking statements. When used in this publication of results, the words “anticipate”, “believe”, “continue”, “could”, “estimate”, “expect”, “intend to”, “be able to” “,” Plan “,” plan “,” “will”, and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such words. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially, including: the ability of WEX to complete all negotiations with the counterparty regarding certain aspects of the relationship or on favorable terms at WEX; The ability and timing of WEX to perform the products and services to be provided under the counterparty relationship, as well as the other risks and uncertainties identified in section 1A of WEX’s annual report on Form 10-K for the ‘year ended December 31, 2020, filed with the Securities and Exchange Commission on March 1, 2021 and WEX’s Quarterly Report on Form 10-Q for the period ended June 30, 2021, filed with the Securities and Exchange Commission on March 4, August 2021. WEX’s forward-looking statements do not reflect the potential future impact of any alliance, merger, acquisition, transfer or repurchase of shares. Forward-looking statements speak only as of the date of this press release, and no undue reliance on such statements should be made. WEX disclaims any obligation to update forward-looking statements as a result of new information, future events or otherwise.