Mack offers usage-based leasing option for medium-duty electric truck
New lease option enables lower entry costs when integrating battery-electric vehicles
Mack Trucks has introduced a new leasing model to enable the cheaper integration of battery-electric vehicles. The ElectriFi Subscription financing model is a usage-based leasing option exclusive to Mack MD Electric vehicles.
The subscription will enable a pay-by-the-mile option where users can pay for miles driven with chassis and body, charging, applicable incentives, physical damage insurance, and maintenance costs bundled into a monthly payment. Subscription terms start at three years and can be extended up to a total of six years.
The financing option reduces the upfront investment that normally comes with integrating electric vehicles into a fleet. Mack also says that the subscription model is a low-risk financing option because users can walk away at the end of the term.
Fleets that utilize ElectriFi Subscription have access to Mack's suite of uptime technologies including Mack OneCall, a roadside service and support option, and telematics.
Along with ElectriFi Subscription, Mack also offers ElectriFi Infrastructure and ElectriFi Lease. ElectriFi Infrastructure is available for all purchases or leases. Mack, along with third-party partners, will assist ElectriFi Infrastructure subscribers with developing charging station design, installation, construction, hardware, and software needed for new BEV charging facilities. This subscription also includes an all-inclusive financing option, provided the vehicle is funded by Mack Financial Services, which can include a 60-month loan.
ElectriFi Lease enables the addition of BEVs into fleets with reduced upfront investment. Users will have access to Mack telematics through a Mack Ultra Service Contract, and Mack's Route Support Services team to help analyze existing routes, infrastructure upgrades, and integration. The offer has lifecycle financing options and renewable five-year terms.
Mack's Ultra Service Contract is a five-year service contract for the Mack MD Electric and Mack LR Electric collection model. The contract includes telematics with battery monitoring; scheduled maintenance; preventative maintenance; repairs excluding accidents, tires, and glass; towing for warrantable failure to a certified EV dealer; and Mack OneCall.
The Mack MD Electric was introduced in March of 2023. The MD Electric is a BEV model of the diesel-powered MD. Both MD models are medium-duty trucks and are available in Class 6 and Class 7 ratings. The Class 6 model has a gross vehicle weight rating (GVWR) of 25,995 pounds while the Class 7 model has a GVWR of 33,000 pounds.
The MD Electric is ideal for applications requiring dry van/refrigeration, stake/flatbed, and dump vocations.