Hitachi affirms its commitment to carbon reduction

London, September 21st 2020 - Hitachi Capital Vehicle Solutions (HCVS), a division of Hitachi Capital (UK) PLC, and Hitachi Europe Ltd., a wholly owned subsidiary of Hitachi, Ltd. (TSE: 6501, Hitachi), have signed a three-year deal to collaborate on new net-zero solutions for fleet owners. The partnership, which includes a financial commitment, has already yielded two new net-zero solutions, known together as Intelligent Fleet Decarbonisation .

The fleet conversion solution simplifies and de-risks the process of switching large commercial and public transport fleet from combustion to electric vehicles. The Hitachi team's holistic service builds the business case for conversion based upon total cost of ownership comparisons and vehicle sourcing & financing options. Full or even partial fleet electrification needs to take a range of factors into account, including the size and age of the existing fleet, the suitability of the depot for conversion and the requirements for grid infrastructure, energy management and driver training.

The partnership's tried and tested solution considers all of these different elements to assess both the opportunity and viability of converting the fleet to electric and offers an end-to-end solution to accelerate the transition to low-carbon fleet.

For fleet owners looking to run their operations with the lowest cost and carbon impact, electrification is just one part of the journey and so the partnership has also developed a fleet optimisation digital platform. Users maximise fleet utilisation, predict maintenance and optimise driver behaviour in real-time thanks to harmonising Big Data and using Artificial Intelligence.

Having full visibility on the usage and condition of vehicles maximises their use, helping to drive both environmental and economic value. Electric vehicles tend to have a higher carbon footprint during manufacture than ICE vehicles, However, the more they are used, the higher the overall saving on total lifetime carbon emissions.

Both of the partnership's solutions help deliver net-zero outcomes for all asset types - bus, truck, van, car - and drivetrains - diesel, hybrid, battery electric and fuel cell electric.

Ram Ramachander, Chief Commercial Officer, Social Innovation Business EMEA and Chief Digital Officer, Hitachi Europe Ltd. said: Our collaboration with Hitachi Capital Vehicle Solutions is testament to the power of co-creation. Together we have created innovative new solutions that help fleet owners cut costs and carbon. We look forward to continuing this partnership into the future and incubating new business models.

Jon Lawes, Managing Director at Hitachi Capital Vehicle Solutions, said: This partnership enables us to accelerate the transition to AFVs for fleets of all shapes and sizes; from managing large scale transition ICEs to BEVs to fleet optimisation and EV depot charging solutions. We're solving society's challenges to decarbonise vehicles, safely, whilst saving costs. In addition to our partnership with GRIDSERVE to build better charging infrastructure, we offer a unique solution to make electrification a reality for our customers.

In line with the UN's commitment to develop accessible, affordable, and environmentally friendly transport, Hitachi has developed these new net-zero solutions to provide social, economic, and environmental value to society. In Europe, where governments are actively pursuing net-zero transport policies, Hitachi aims to address the challenges companies may face when incorporating electric vehicles into their fleets and enables steps towards a smarter and more sustainable world.

For more information on the solutions please visit: https://www.hitachicapitalvehiclesolutions.co.uk/corporate-fleets/intelligent-fleet-decarbonisation

About Hitachi Capital Vehicle Solutions

Hitachi Capital Vehicle Solutions, a division of Hitachi Capital (UK) PLC, is one of the UK's top 10 largest leasing companies and has more than 25 years' experience in providing bespoke fleet finance and fleet management services for businesses across the UK.

Hitachi Capital Vehicle Solutions has a fleet size of over 81,438 vehicles ranging from cars, small, medium and large vans to HGVs, with a combined asset value of £999m. The business provides all forms of funding, maintenance, accident and daily rental management, supporting customers across every stage of the vehicle life cycle.

Hitachi Capital Vehicle Solutions is unique in the market in being able to offer every kind of asset, including large trucks and plant machinery, as well as car-based employee benefits for employees of medium and large corporates and a market-leading personal lease offering both directly and via a network of brokers.

About Hitachi Capital (UK) PLC

Hitachi Capital (UK) PLC is a leading financial services company with over 35 years' experience in providing innovative finance solutions to enable consumers, SMEs, fleet owners, motor dealers and retailers to grow and prosper. Hitachi Capital (UK) PLC has over 1,500 employees, £5.9bn of net earning assets and over 1.4 million customers across its five business units; Consumer Finance, Vehicle Solutions, Business Finance, Invoice Finance and European Vendor Solutions.

Hitachi Capital (UK) PLC is a wholly owned subsidiary of Hitachi Capital Corporation, one of Japan's largest non-bank financial institutions. Hitachi Capital Corporation is an affiliate of both Hitachi Ltd, a world leader for manufacturing and technology, and Mitsubishi UFJ Financial Group Inc. Manufacturing continues to be a key part of Hitachi Capital (UK) PLC's DNA, delivering complex products to high levels of customer satisfaction.

About Hitachi Europe Ltd.

Hitachi Europe Ltd., a subsidiary of Hitachi, Ltd., is headquartered in Maidenhead, UK. The company is focused on its S

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