Crédit Agricole acquires 30% of Michelin’s turnkey EV brand
By Bradley Osborne - 27th December 2022
France – Michelin Group, a tyre manufacturer based in Clermont-Ferrand, France, has announced that Crédit Agricole, a cooperative banking group based in Montrouge, has acquired a 30% stake in its turnkey EV service, ‘Watèa’, following an equity investment.
Watèa was created by Michelin in 2021 to offer a vehicle subscription service to companies looking to build a fleet of light commercial electric vehicles. Through consultation, Watèa helps clients to choose the right vehicle model and fleet size for their needs. After that, Watèa arranges the installation of charging infrastructure and provides fleet management services, including digital applications to monitor vehicles in real-time.
