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WEX streamlines commercial EV adoption with general availability of at-home and en route charging products

April 16, 2024

WEX, the global commerce platform that simplifies the business of running a business, today announced the general availability of WEX EV At-Home in the United States, an innovative, cutting edge solution that automates reporting and reimbursement for any organization with electric vehicles (EVs) that employees bring to their personal residence to charge overnight, the most cost effective way to charge. When coupled with WEX’s other commercial fleet innovations, including WEX En Route, business can seamlessly integrate mixed fleets of electric and traditionally fueled vehicles, supporting a balance of innovation, operational reliability, and efficiency at any stage of a company’s transition to EVs.

“WEX services approximately 600,000 commercial fleets globally representing an estimated 19.3 million vehicles as of the fourth quarter of 2023, with each commercial fleet manager juggling a unique set of variables. We continue to innovate to add to the breadth and depth of WEX’s commercial EV and mixed fleet solutions, allowing us to meet each customer where they are on their EV and mixed fleet journey,” said Melissa Smith, Chair, CEO, and President of WEX. “WEX is proud today to continue to help businesses manage EVs alongside their traditional fleet of vehicles.”

Today’s announcement signifies the general availability of WEX’s en route charging and at-home reimbursement capabilities and bolsters WEX’s market-leading role in closing the commercial EV adoption gap.

“There are few EV solutions that simplify charging for commercial drivers and allow fleet managers access to line item charging detail, vehicle performance, and unified billing regardless of brand — and even fewer regardless of charging location,” said Jay Collins, SVP and GM of EV and Mobility at WEX. “That WEX’s EV solutions accomplish this — while also integrating with metrics from traditional fuel vehicles across a single credit line, invoice, and backend software portal — is illustrative of WEX’s leadership and technical expertise in the commercial mixed fleet space. WEX’s continued innovation signifies a true commercial mixed fleet experience – offering fleet managers the ability to easily add EVs without sacrificing their needs for security, control and unified reporting all in one place.”

WEX EV At-Home

WEX EV At-Home is a transformational EV solution that combines EV charging insights, payments, and reimbursement functionality to simplify the complex scenario of when employees bring their work vehicles home to charge overnight. WEX EV At-Home issues a direct reimbursement to the employee via the business’ line of credit and a complementary employee-facing mobile app making it possible to issue payment in near real-time based on the true utility cost of the charge, while transmitting line item charging metrics to the business. Drivers can fully charge their work vehicles overnight for use the next day with insights into charging behavior and other vital fleet management metrics provided to the fleet manager.

WEX En Route

WEX EV At-Home joins WEX’s other commercial fleet payments products in the U.S., including WEX En Route for public EV charging. Through WEX’s DriverDash app and RFID card, WEX En Route leverages WEX’s proprietary closed loop payments network to increase the security of each transaction and to transmit charging behavior, driver identification information, and vehicle mileage to the fleet manager. WEX’s DriverDash app and RFID are accepted across the U.S. at ChargePoint-branded EV chargers and at ChargePoint’s roaming partner brands: EVConnect, EVGo, FLO, with additional accepting merchants expected in the coming months.

These advancements enable large enterprises and small businesses to incorporate EVs into their commercial fleets alongside existing traditionally fueled vehicles, illustrating WEX’s strategic commitment to closing the commercial EV adoption gap by integrating EV functionality into existing products and – empowering organizations to manage EVs alongside traditional internal combustion engine (ICE) vehicles fueled with gasoline, as part of a mixed fleet.

Learn more about WEX’s EV and mixed fleet solutions HERE.

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