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VEMO’s electric vehicles (EV) are present in some of the largest countries in Latin America such as Mexico and Colombia. They are pioneers in electric vehicle fleet management and have enhanced their impact through alliances with the biggest players in the mobility industry, including Uber. Not only do they offer electric vehicles specially designed for comfortable rides within cities as part of their fleet, but they have also developed the ecosystem in which they are currently playing.
The ecosystem is comprised by:
Since 2021, VEMO has enabled 13 million kilometers traveled with electric cars; they have installed 6,000 recharge stations throughout Mexico, and through the partnership with Uber, they have accomplished more than 800,000 trips.
VEMO’s proposal is not only focused on clean mobility, including EVs and carbon credits but also is focused on societal impact by improving people’s quality of life. It is important to mention that Latin America has very high levels of air pollution linked to vehicle emissions, industrial activities, burning of fossil fuels and other activities. As a result, the death rate from diseases related to this kind of pollution is 39.3% in the region, according to the World Bank data. The region is also highly affected in terms of water availability, water pollution, deforestation and mining. Therefore, VEMO’s solution is focused on offsetting some of the impact of all of these factors in the countries where it operates.
While electric vehicles are already available to buyers in the market, VEMO is focused on transforming mobility in cities. Their innovation is architectural, because VEMO has developed a new business model that enables existing and new customers to access and use electric vehicles. They designed their own fleet of EVs especially conceived for ride hailing, passenger safety and comfort, with extra space for the passengers in the back seats, enough space in the trunk for wheelchairs and sliding doors for extra maneuvering space, as well as speed limits to make the rides safer. Every detail in the design was analyzed extensively to provide the best riding experience for customers. VEMO also provides additional security measures such as a panic button, camera, GPS and microphone in each of their vehicles. Fleets are continuously monitored in order to avoid misuse of their units and ensure the safety of all the vehicle’s passengers through remote assistance. This enables women drivers to feel safe to incorporate into this kind of business with more ease, which promotes equity.
As a result of their business model, VEMO has developed an advanced data management technology known as Zero Emission Ecosystem (ZEE) to manage all necessary information about their fleets. The ZEE is now part of the company’s core and was developed as a result of the need to oversee operations in a more holistic way. They use ZEE to oversee their own fleets but sublet it to other fleet owners as well. Through ZEE, they can monitor the vehicle’s battery life, which accounts for most of the unit's cost; they can plan the logistics of charging stations to use them more effectively; and receive alerts and statistics about the vehicle’s status and drivers’ behavior at all times.
VEMO also partnered with Uber to put 1,200 electric vehicles on the streets in Mexico, each operated by 2.5 drivers on average. VEMO supplies its marketed fleet for Uber's use because Uber has pledged to replace combustion vehicles with electric vehicles in the following years. Together, they are actively working towards reducing the reliance on combustion vehicles and revolutionizing mobility on a larger scale.
ZEE screen example
VEMO leaders started the company as a combination of personal experiences, market trends and a vision for a more sustainable transportation system. The leaders of the company had some experience working with traditional transportation systems. These experiences motivated them to find an innovative solution to address the issues of traffic, pollution and accessibility. These were the main reasons for developing a new mobility focused company for the market.
Also, the company covers a whitespace in the market. They target urban areas with electric car transportation and provide to their customers affordable and sustainable solutions. VEMO leaders were inspired to make a solution to fight climate change and reduce carbon emissions through the service of transportation within cities.
Overall, VEMO’s value proposition enhances urban living through quieter cars, improving air quality and ensuring convenient travel options. Additionally, they prioritize creating meaningful and sustainable employment opportunities while offering solutions that promote financial inclusion.
VEMO, in its aspiration to be a transformative force in mobility, decided to offer their fleet management solution to similar companies to promote the use of electric vehicles, regardless if this action would increase the competition in the markets they operate. Thus, the company prioritizes the vision towards sustainability over the results of the business.
To increase their impact, they signed an alliance with Uber, the most important mobility platform in the world, with the purpose of introducing more EV’s into the streets and bringing this technology closer to the most people possible, increasing their day to day use.
VEMO, aiming to promote clean mobility and not only the use of electric vehicles, has gone beyond analyzing and measuring the emissions caused by the power grid they use to charge the vehicles. They currently measure CO2 emissions and know that electric vehicles still can negatively impact the environment because they still use both renewable and non-renewable electricity sources throughout their charging stations matrix. But VEMO is committed to change this and transition towards 100% renewable energy sources in the future. Today, to ensure that they minimize current emissions, the company purchases carbon credits to become a zero-emission enterprise.
VEMO encourages the development and diffusion of environmentally friendly technologies and takes part in the ten principles of the United Nations Global Compact, the world’s largest corporate sustainability initiative, consistent with their sustainability goals.
Thanks to its partnership with Uber, VEMO reduced an average of 5,000 tons of CO2 emissions equivalent to planting over 250,000 trees, only through the pilot program of 250 EVs. This partnership has taken VEMO to other regions of Latin America, enabling Uber to introduce its “Comfort Electric'' service in Colombia with VEMO’s ZEE solution.
Additionally, VEMO recently purchased 11,000 carbon credits, equivalent to the same amount in CO2 emissions, from a company in Mexico which collects biogas generated in a dump to produce electricity; and from a social enterprise in Peru which fights deforestation through the strengthening of forestry technical skills.
VEMO has emerged as a key supporting and enabling partner within the transportation industry, by providing a holistic ecosystem which can become the starting point for other players' adoption of electric vehicles and in general a more sustainable approach to business. VEMO is creating environmental and social benefits and as the company continues to grow, they will be able to exponentiate their positive impact.
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Armando Pérez Rendón, Chief Technology Officer
VEMO is a forward-thinking Mexican CleanTech company which specializes in promoting eco-friendly transportation. They are building the ecosystem to promote the transition to and use of electric vehicles. VEMO has found an opportunity in the clean mobility market and is striving to take a leadership position by creating jobs and better opportunities for drivers, providing integral solutions to fleet owners as well as electric vehicle leasing. VEMO's fleet customers can also have full access and visibility of data about the units to better manage all Key Performance Indicators (KPIs) through the ZEE data source and ensure the efficient use of the vehicles.