KKR Fuels Electric Ambitions With $750M Zenobē Investment: Targets EV Adoption From Bus Operators
Portfolio Pulse from Nabaparna Bhattacharya
KKR & Co. Inc. is investing approximately $750 million in Zenobē, a provider of transport electrification and battery storage solutions, to accelerate the global decarbonization of diesel fleets. The investment is part of KKR's global climate strategy and will be used to meet the growing demand for EV adoption from bus operators and other commercial fleet businesses globally. KKR and current majority shareholder, Infracapital, will become joint majority shareholders of Zenobē.
September 07, 2023 | 1:34 pm
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KKR's investment in Zenobē could potentially boost its position in the EV and decarbonization market. However, the company's shares are currently trading lower.
The investment in Zenobē aligns with KKR's global climate strategy and could potentially boost its position in the EV and decarbonization market. However, the immediate impact on the stock price is negative, with shares trading lower. The long-term impact will depend on the success of the investment and the growth of the EV market.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100