SINGAPORE – EVCo, the electric van leasing company that went into liquidation in March, has been sold for an undisclosed sum to Pan Pacific Leasing Group.
Pan Pacific Leasing, a commercial vehicle leasing company, completed the deal on June 3 to take over EVCo’s fleet of 529 electric vehicles (EVs) and existing leasing contracts. But EVCo’s creditors have to wait longer before they can be paid, as the liquidation process has not ended.
EVCo, also known as Strides DST, was incorporated in March 2022 with a paid-up capital of $10 million. It was 60 per cent owned by transport operator SMRT’s business arm Strides Holdings and 40 per cent by Dishangtie Green Technology (Hong Kong).
In a statement, SMRT’s Strides Digital said…
