Watea opens up its capital to Crédit Agricole

In order to accelerate its growth, the Michelin subsidiary is opening up 30% of its capital to Crédit Agricole Leasing & Factoring. Launched in 2021, Watèa supports the transition of professional fleets towards electric mobility, with a planned opening to hydrogen.

Within one year, Watèa by Michelin has captured more than 10% of the last-mile delivery market in France and is expanding to include construction and housing services companies. The memorandum of understanding with Crédit Agricole provides for the financing of mobility solutions for VSEs, SMEs and large groups to help them carry out their energy transition projects.

“This agreement will accelerate Watèa’s growth and is fully in line with the Michelin Group’s strategy, which demonstrates its ability to leverage its expertise beyond tyres,” said Lorraine Frega, Michelin’s Business, Innovation and Partnerships Director.

Article written by Laurent Meillaud and translated by Logan King

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About the author

Logan King

Logan King

After an unusual career (3 years in the French army followed by a 3-year degree in Applied Foreign Languages), it was my passion for environmental issues that finally caught up with me and led me to join Seiya Consulting and H2 Today in June 2022. First as an end-of-study internship, then as Marketing & Communication Manager and translator at Hydrogen Today.

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