Driven by strategic growth: Alphabet reports successful 2024

• Portfolio growth of 6%
• BEV volume in new business expanded by 53%
• New business increased by 23%

MUNICH 17/03/2025 – Alphabet has experienced a year of remarkable growth, showcasing its strong performance across all operational sectors, despite volatile market conditions.

During this time, the company's vehicle portfolio has expanded significantly, reaching a total of over 760,000 units. This partially includes the management of the BMW Group's own fleet, aimed at enhancing the utilisation and remarketing of the vehicles involved. 

Alphabet's new business segment has achieved an impressive growth rate of 23%, surpassing the milestone of 250,000 vehicles. Increased orders for battery electric vehicles (BEVs) has been a significant driver for portfolio growth, reflecting a substantial overall increase of 52%. Moreover, Alphabet has strategically expanded its international presence by integrating Slovenia and the Baltic states into its OneNet partner network, extending its mobility services to a total of 38 markets.

Accelerating xEV adoption amidst dynamic economy

Fleet electrification continues to be the driving force in the transition to alternative drive trains. While the market in general has seen barely any growth, the demand for partially or fully electric vehicles (xEV) of new business reached a notable 45% increase compared to 2023. xEVs now make up 35% of Alphabet's total portfolio, underlining the strategic shift towards electrifying its customers’ fleets.

“Companies across our markets are making the strategic shift to an electrified fleet, with every fourth vehicle delivered last year [2024] even being a BEV”, says Jesper Lyndberg, who took over as Alphabet’s Chief Executive Officer (CEO) in November 2024. 

Sustainability powered by digital innovation

Alphabet’s push for low-emission mobility is accelerating with cutting-edge digital advancements. The latest updates to the 360 Fleet Portal and Fleet Reporting now feature the Alphabet AI Assistant – the sector’s first real AI-powered tool. This enables customers to cut emissions and boost fleet efficiency, all while staying compliant with regulations. 

“Sustainability and digitalisation can no longer be separated. Our goal is the best of both worlds,” says Lyndberg. “By embracing AI and other innovations, we meet customers’ needs while advancing our ESG targets.” To reinforce this vision, Alphabet has introduced two key leadership roles in 2024: Chief ESG Officer and Chief Digitalisation Officer. “Both have already proven to be vital additions, bringing invaluable expertise to propel our sustainability and digital transformation efforts,” adds Lyndberg.

Fuelling progress: promising start to 2025

Alphabet is off to a strong start to 2025: In the first two months of the new year, over 44 % of new business contracts were fully or partially electric vehicles. To date, this corresponds to more than 140,000 BEVs from the total portfolio. “Since this is the beginning of my first full year as CEO, I’m very excited to announce that we are already on course to exceed our goals for this year,” says Jesper Lyndberg. 

Alphabet's ability to navigate the turbulent economic landscape, maintain steady growth, and deliver exceptional results is a testament to the company's resilience, adaptability, and unwavering commitment to innovation and customer satisfaction. These achievements position Alphabet as one of the clear leaders in the dynamic mobility sector. 

Sven Straub, the Head of Region Europe at BMW Group Financial Services, extends his congratulations to Alphabet for their successful business year in 2024. "I am very thankful to our valued customers and appreciate the strong engagement of our dedicated Alphabet team. Customer centricity, fostering innovation, providing meaningful services, and ensuring responsible business growth are the cornerstones of elevating individual mobility to the next level."