EV ride-hail leasing company Hive raises $30 million in funding round

EV ride-hail leasing company Hive raises $30 million in funding round

EV ride-hail leasing company Hive raises $30 million in funding round

Information about EV ride-hail leasing company Hive raises $30 million in funding round

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By Tina Bellon
(Reuters) – Electric vehicle leasing startup Hive Technologies Inc said on Tuesday it closed a $30 million funding round to expand its fleet for ride-hail drivers who can otherwise not afford the vehicles’ higher upfront costs.
Backed by environmental, social and governance (ESG)-focused investors, the company leases EVs to Uber Technologies Inc and Lyft Inc drivers on a per-mile cost basis offering a potentially cheaper option than taking out a loan to buy a new EV.
“The more you drive, the faster the car payment goes to zero. So instead of going under the water on a loan, you’re benefiting,” Hive Chief Executive Mathias Thomsen said in an interview with Reuters.
The company currently only operates with General Motors’ Chevrolet Bolts in California, but is talking to …

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