Burges Salmon advises Gravis on brace of transactions for zero-emissions taxis

Published by

Peter Davison

Bristol-based law firm Burges Salmon has advised funds managed by Gravis on two separate funding transactions in the electric-vehicle space.

One was advising on the funding of 150 LEVC ultra-low emissions taxis for Colt Cabs. The other was advising on the funding of 100 LEVC ultra-low emissions taxis for Sherbet London.

The funding of the vehicles is through an innovative and flexible pay-per-mile mechanism managed by Zeti, which has developed a financing structure for vehicle leasing based on a pay-per-mile principle measured against the per mile usage of vehicle fleets.

This vehicle financing project is an important step in tackling London’s air pollution and supports the Mayor of London, Sadiq Khan’s commitment to zero-emission transportation in the capital.

The Burges Salmon team advising on the deal was led by partner Victoria Allsopp, alongside director Alistair Rattray and solicitor Harrison Folland, all from the firm’s Banking and Finance team.

“We are pleased to have worked alongside Gravis and Zeti on these projects," said Victoria.

"The transition to greener transport infrastructure is a critical part of delivering on the UK’s Net Zero strategy and to reducing levels of CO2 in towns and cities across the country.

"These are the latest in a series of transactions we have advised upon to support a shift from conventional to electric vehicles.”

Peter Davison

Peter Davison is deputy editor of The Business Magazine. He has spent his life in journalism – doing work experience in newsrooms in and around Bristol while still at school, and landing his first job on a local newspaper aged 19. By 28 he was the youngest newspaper editor in the country. An early advocate of online news, he spent the first years of the 2000s telling his bosses that the internet posed both the biggest opportunity and greatest threat to the newspaper industry and the art of journalism. He was right on both counts. Since 2006 he has enjoyed a career as a freelance journalist. He lives in rural Wiltshire with one wife, two children, and three cats.