She said it has the talent and investor capital needed.

The firm manages over $1 billion in investor capital with a focus on investments in the business-to-business services, information technology services, and communications services sectors.

The per-distance fees would cover battery pack leasing, charging and swap infrastructure, purchasing sustainable electricity, profits, and the cost of investor capital.

The fund, which started operations with $1 billion of investor capital, was extremely successful in the first years, with annualized returns of over 40%.

Community investing institutions use investor capital to finance or guarantee loans to individuals and organizations that have historically been denied access to capital by traditional financial institutions.