Element Fleet Management Acquires Vehicle Payment Technology Firm Car IQ
TORONTO — December 2, 2025 — Element Fleet Management Corp. has announced it has signed an agreement to acquire Car IQ, a San Francisco-based technology company specializing in vehicle payment solutions. Financial details of the transaction were not disclosed.
Car IQ offers innovative technology that replaces traditional fleet cards with embedded systems within vehicles, enabling seamless payments at gas stations, toll roads, and other points of service. This technological solution aims to simplify payment processes while enhancing fleet management efficiencies.
Following the acquisition, Car IQ will continue to operate as a subsidiary under Element Mobility, a division of Element Fleet Management. The integration of Car IQ’s technology into Element’s existing platform is projected to deliver enhanced controls, reduce fraud risks, and streamline operational processes for Element’s clientele.
Element Fleet Management, with operations spanning North America, Australia, New Zealand, and Ireland, provides comprehensive fleet management services to various industries. This strategic move marks a significant step in the company’s effort to broaden its technological capabilities and deliver advanced solutions to its customers.
The acquisition remains subject to customary closing conditions and is anticipated to finalize later this month.
This report was provided by The Canadian Press.
