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Element to acquire Car IQ, creating the fleet industry's first scaled platform for intelligent, vehicle-initiated payments
Element to acquire Car IQ, creating the fleet industry's first scaled platform for intelligent, v...
About this update from Element Fleet Management Corporation
[{"type":"text","content":"\n\n\nElement to acquire Car IQ, creating the fleet industry's first scaled platform for intelligent, vehicle-initiated payments\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\nCanada NewsWire\n\n\nAcquisition accelerates Element Mobility's strategy and advances the Company's position as the leading connected-fleet ecosystem in North America \nTORONTO and SAN FRANCISCO, Dec. 2, 2025 /CNW/ - Element Fleet Management Corp. (TSX: EFN) (\"Element\" or the \"Company\"), the largest publicly traded, pure-play automotive fleet manager in the world, today announced a definitive agreement to acquire Car IQ, a San Francisco–based technology company and pioneer in connected vehicle payments.\n\n\n\n\n\n\n\nThe acquisition brings to market the first vehicle-initiated payments technology embedded directly into a full-suite fleet management ecosystem. It also enables Element to offer clients access to its full suite of connected mobility, data, and fleet management solutions, integrated with digital payments capabilities. Car IQ will operate as a subsidiary of Element Mobility and immediately expand Element's digital payments roadmap across the United States and Canada.\nCar IQ's technology enables vehicles to autonomously initiate, authenticate, and complete transactions with merchants, eliminating physical cards, PINs, and manual reconciliation. Integrating this capability into Element's platform will provide our clients with stronger controls, reduced fraud exposure, real-time spend visibility, and materially simplified operations.\n\"Digital payments is an important pillar of our Element Mobility strategy,\" said Kobi Eisenberg, President, Element Mobility and Autofleet. \"It enhances our connected ecosystem and positions us to deliver a seamless, digital payments experience, enabling clients to operate more efficiently, streamline transactions, and unlock new opportunities across their mobility lifecycle.\"\nTogether, Element and Car IQ will combine their complementary strengths: Element's scale, distribution, and client relationships with Car IQ's breakthrough vehicle ...