3 mins read

Vitol: Development of an EV Fleet Charging Technology Business




About the project

Vitol is an energy major who decided to create a e-mobility charge point business targeting commercial organizations with large van and truck fleets. Vitol has generally acquired new businesses before, so this new decision to design a business from first principles was fresh to them.

Vitol asked HTEC Group to help them form a view of what software foundations should underpin this new business. This required deep research and analysis of existing suppliers, platforms and technologies.

The desired end point was a clear road map of what to buy and what to build, in which order, and input into the overall business case to enable Vitol to make good strategic decisions on if and how to proceed.


The challenge for HTEC was to create a strategy that delivered the desired user experience and implications for a best-in-class technology solution set against the availability of existing technology solutions from current providers, and factoring in the relative cost of build/buy/partner options.  

The HTEC work was carried out by a blend of design, product, engineering, business and other people. The work included a pre-discovery phase, market analysis, design options, business model innovation, and potential partner/acquisition identification and evaluation. 

The exploration work had to be carried out over an accelerated period to map into Vitol business timelines, including business case sign off by the CEO and investment committee at early pre-set milestone dates.  

Vitol’s objective is to be a market leader in large commercial e-mobility markets.

Vitol aims to put a dent in the universe. Everything we do has to be material, we have to lead, we have to be bigger and better — we can make a significant impact on Net Zero aims.

– Mike Nakrani

E-mobility Director at Vitol


The HTEC team created a map of technologies and capabilities required to build a differentiated business. This was then translated into a number of scenarios which showed different routes to get to the end vision, with different implications for time to market, cost and level of differentiation. The scenarios were extremely robust, and numbers were supported by validated assumptions around unit costs and volumes based on detailed market analysis. Based on the selected scenario HTEC created a detailed 2 year and high level 5-year roadmap.  We supported development of the business pitch to the Vitol CEO, with support around software, partner, and technology issues. 

Creativity was prerequisite for work on this project since this market is still nascent and the challenge was to define and make the future tangible. We have helped create solid foundations for the new business. I look forward to seeing this e-mobility business become the clear market global leader that the strategy foresees.

– Nemanja Timotijević

Engineering Lead at HTEC Group

Working closely with HTEC product managers and developers with real world knowledge in the design and development of an exciting digital platform was invaluable. Their skill helped me to make sense of a complex landscape and to make the right decisions and achieve a successful outcome at board level.

– Mike Nakrani

E-Mobility Managing Director


We enabled the venture to successfully raise internal funds to launch the business. Since launch it has grown significantly, making a rapid number of hires, evaluating and making decisions on potential partners and acquisitions, and is on track to deliver against objectives.  

If this new venture succeeds in its aim, to transform large van and truck fleets by moving them to electricity and other renewable solutions, there will be a significant reduction in global carbon emissions, and both Vitol and HTEC will have contributed to Net Zero objectives and environmental sustainability.

“I’m happy that we have helped our friends at Vitol get this ambitious venture off the ground. The full impact will be seen over the next 5-10 years as I truly believe that together we can create a market leading digitally enabled and differentiated electric chargepoint operator.

– Larry Zentner


HTEC has helped me in the digital space, they are a software powerhouse, they have helped to clarify the journey ahead and make the complex simple.

– Mike Nakrani

E-mobility Director at Vitol

Let’s take the first step together.