Hitachi Capital Vehicle Solutions, part of Hitachi Capital (UK) Plc, has made a major decarbonisation pledge as its rebrand to Novuna Vehicle Solutions completes. 

Jon Lawes, MD at Novuna Vehicle Solutions

The rebrand, announced at the end of last year, follows the merger of Hitachi Capital Corporation with Mitsubishi UFJ Lease and Finance Company Limited, forming Mitsubishi HC Capital Inc. At the same time, Hitachi Capital (UK) Plc now becomes Mitsubishi HC Capital UK Plc.  

The Novuna rebrand – which means ‘new together’ – is the first stage of the business’s transformation as it accelerates growth plans under the new parent company.  

This includes further growing its role in the electric vehicle sector, and the business has now stated its pledge to fully decarbonise its car and small van fleet by 2030. 

Novuna Vehicle Solutions manages over 95,000 vehicles ranging from cars and vans to HGVs and specialist assets, and will accelerate the transition strategy for customers to an electric fleet through its bespoke end-to-end decarbonisation solution.   

The service helps fleets move to cleaner vehicles by assessing fleet challenges and creating bespoke transition plans, providing funding and re-designing back-office management, all of which is supporting the widespread adoption of EVs.  

Jon Lawes, managing director, said: “The launch of our new brand is a significant milestone in the growth and development of our business. Novuna Vehicle Solutions is committed to being at the forefront of the UK’s EV adoption drive and we are striving to operate a fully decarbonised fleet by 2030.    

“As a market leader in vehicle leasing in the UK, working with OEMs right across the spectrum to fund, build and manage fleets of all complexities, our end-to-end decarbonisation strategy provides Novuna with a clear point of differentiation. From funding, right through to employee engagement to support the implementation of EV salary sacrifice schemes, we are creating bespoke solutions enabling our customers to take advantage of the cost and environmental benefits of switching to electric vehicles.”  
The business will also strengthen and broaden its range of services under its new name to accelerate the wider uptake of EVs beyond fleets, supported by industry partnerships that provide competitive EV leasing deals for customers including the RAC and its members through its recently launched EV leasing service.  

Novuna has also developed its EV Academy, said to be the first organisation to be accredited as such and enabling colleagues to help customers transition to electric in an informed, personal way.  
The backing of Mitsubishi HC Capital Inc will enable Novuna to build on this work, leveraging the size, scale and expertise of its new parent company.  

Each of the other business divisions will operate under Mitsubishi HC Capital UK PLC’s trading style, including Novuna Consumer Finance, Novuna Personal Finance, Novuna Business Finance and Novuna Business Cash Flow (previously Invoice Finance).  

The European division has adopted the Mitsubishi HC Capital trading style as part of its collaboration with the parent company, Mitsubishi HC Capital Inc.