EV leasing company Tusker acquired by Lloyds Bank

To further its net zero aims and grow its vehicle leasing business, UK bank Lloyds Banking Group announced the acquisition of EV-focused vehicle management and leasing company Tusker for about £300 million. The EV100 member Tusker has pledged to electrify all of its vehicles by 2030. With additional purchases, the percentage of EVs in the company’s fleet of more than 23,000 vehicles is expected to rise to 77%.

As per Lloyds, the acquisition will:

  • Assist Britain in creating a sustainable society
  • Assist Britain in achieving its net zero emission goals by 2050

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