Corpay, the Atlanta-based corporate payments group valued at $20bn, is joining forces with Voltempo to tackle Britain’s electric truck adoption challenge. The partnership combines charging infrastructure, fleet payments and electricity procurement into one system that could finally make electric haulage profitable for operators.
According to company officials, the deal addresses the biggest barriers preventing fleet operators from switching to zero-emission trucks. By purchasing energy on behalf of customers, the two firms say they can deliver average savings of around 20 per cent on total cost of ownership compared with diesel trucks.
“We’re demonstrating that electric trucks and vans can be more profitable, more productive and ultimately better for operators’ businesses,” said Simon Smith, Voltempo’s chief executive.
The timing couldn’t be more critical for Britain’s struggling haulage industry.
Diesel Costs Driving Change
Diesel prices surged 28 per cent in March alone, driven by conflict in Iran, according to the RAC. That spike has intensified financial pressure on hauliers already battered by years of rising costs – the sector recorded a record 503 insolvencies in 2023, with roughly 400 more following last year.
Despite the clear case for change, electric lorries still account for just 1.4 per cent of truck registrations in 2025, according to the Society of Motor Manufacturers and Traders.
The Road Haulage Association estimates upfront costs for electric trucks remain at least two and a half times that of diesel equivalents. Public charging costs stay prohibitively high for commercial vehicles.
Britain’s net zero roadmap requires all new lorries under 26 tonnes to be zero-emission by 2035. Heavier long-distance trucks must follow by 2040. Ministers recently committed £1bn in funding through 2030 to help cover depot charging installation costs.
Creating Revenue Streams
Corpay already operates a substantial UK footprint through its Allstar brand, which handles fuel and EV charging payments for fleets. The brand generates around 14 per cent of the group’s global revenue.
The new partnership adds a practical dimension – Voltempo’s depot charging hubs can share spare capacity with other fleets via Corpay’s payment platform.
“They can fill spare capacity and reinvest the money into more infrastructure,” said Tom Rowlands, managing director at Corpay. “It makes the investment case to put the infrastructure into their site much more appealing.”
Corpay’s market value has grown tenfold since its 2010 listing.
Voltempo, a lead partner in a government-backed project to accelerate zero-emission truck deployment, has built 35 depot charging hubs across the UK. The company plans to have charging infrastructure on every major road in the country by 2035.
For fleet operators weighing the switch, both companies say the economics of electric haulage are finally starting to work. With diesel volatility showing no signs of easing, waiting may prove costlier than making the move now.
