Ferronordic e-Rental, a German provider of sustainable transport solutions, has received a substantial funding of up to 23 million euros from the German Federal Ministry of Transport.
This funding will be used to acquire a fleet of up to 117 electric trucks within the next year.
As an e-truck rental company, Ferronordic e-Rental plans to leverage the funding to procure subsidised electric trucks from Volvo Trucks and Renault Trucks. The subsidy will primarily be used to lower the rental prices of these electric vehicles, aiming to make zero-emission transport more appealing to customers. The final amount of the subsidy will depend on the number of trucks ordered by Ferronordic. To receive the subsidy the company must retain ownership of the trucks for a minimum of four years and meets certain annual vehicle utilisation requirements.
Ferronordic’s parent company, founded in Sweden in 2010, ispecialises in the sales and service of trucks and construction equipment with a widespread presence through approximately 100 branches and around 1,800 employees. The German subsidiary, Ferronordic e-Rental, established in 2022, focuses specifically on the rental of electric trucks, chargers, and the promotion of sustainable transport solutions. Earlier this year, the company placed an order for 32 all-electric trucks as part of its expansion into the German market.
Regarding the recently approved funding, Ferronordic highlights that the total value of the 117 electric trucks, prior to the subsidy, amounts to approximately 40 million euros. The funds are expected to be received no later than 2026, following the purchase of the trucks. The funding of up to 23 million euros is provided by the Federal Ministry of Digital Affairs and Transport as part of the “Climate-friendly commercial vehicles and infrastructure (KsNI)” federal funding programme. The programme is coordinated by NOW GmbH, with applications being approved by the Federal Office of Logistics and Mobility.