Tag: PR Newswire

• Opex benefits are emerging, but TCO is still held back by early–stage ecosystem constraints
• Upfront cost gaps, residual value doubts and policy and grid inconsistencies are slowing BEV investment
• Scaling will depend on coordinated action across the ecosystem to remove these barriers

LONDON, March 5, 2026 /PRNewswire/ — Corporate fleet electrification represents a significant economic and climate opportunity for Europe, according to the EY–Eurelectric report Fleet Forward: powering the transition to electric mobility.

The report finds that transitioning Europe’s corporate fleets could unlock up to €246 billion in cumulative operating cost savings by 2030. It also estimates that full fleet electrification could reduce up to one billion tonnes of CO₂ emissions by 2030.

Operating expenditure advantages are already visible across key fleet segments. The report shows that electric cars and light commercial vehicles can deliver meaningful per-kilometer operating cost savings compared with internal combustion engine equivalents, particularly where depot or home charging dominates. Electric trucks can also achieve lower operating costs on defined routes where charging strategy and CO₂-based tolling frameworks align.

However, the report makes it clear that operating cost advantages alone will not drive scale. Total cost of ownership remains influenced by higher upfront vehicle prices, residual value uncertainty, uneven incentive structures and delays in grid connection and charging deployment.

Constantin M. Gall, EY Global Aerospace, Defense & Mobility Leader, says:

“The report shows that fleet electrification is already delivering operating–cost advantages in many fleet segments; however, total cost of ownership is still burdened by several structural constraints given the nascency of this new ecosystem and the ongoing change process. Upfront cost disadvantages, residual–value risk, fragmented policy frameworks, and grid bottlenecks are slowing investment decisions into BEVs. The ability to address these barriers will determine how quickly fleet electrification can scale.”

According to the report, coordinated action is required across the ecosystem. Fleet operators must align vehicles with real duty cycles and maximize depot-based smart charging, which the report identifies as a key lever to reduce energy costs and improve operating margins. OEMs must narrow upfront price gaps, improve battery transparency and strengthen residual value confidence through buyback programs and standardized data. Policymakers must provide stable, multi-year fiscal and regulatory certainty. Grid operators and energy providers must accelerate connection timelines and invest in anticipatory capacity to support electrified depots and charging corridors. Financiers and leasing providers must scale bundled and risk-sharing models that reduce balance sheet exposure.

Kristian Ruby, Secretary General of Eurelectric, says:

“In the EU, 6 out of 10 new vehicles are sold to fleet owners, so the potential to save money and emissions is enormous. A well-designed fleet initiative can boost demand for BEVs to the benefit of European Industry and energy independence.”

The report highlights that progress is real and the economic case is strengthening, but unlocking the full value of fleet electrification depends on practical coordination across industry, energy and policy actors.

Read the full EY–Eurelectric report here.

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/fleet-electrification-could-unlock-nearly-a-quartertrillion-dollars-in-operatingcost-savings-but-only-if-structural-barriers-are-tackled-jointly-across-the-ecosystem-eyeurelectric-report-302705252.html

SOURCE EY

• Opex benefits are emerging, but TCO is still held back by early–stage ecosystem constraints
• Upfront cost gaps, residual value doubts and policy and grid inconsistencies are slowing BEV investment
• Scaling will depend on coordinated action across the ecosystem to remove these barriers

LONDON, March 5, 2026 /PRNewswire/ — Corporate fleet electrification represents a significant economic and climate opportunity for Europe, according to the EY–Eurelectric report Fleet Forward: powering the transition to electric mobility.

The report finds that transitioning Europe’s corporate fleets could unlock up to €246 billion in cumulative operating cost savings by 2030. It also estimates that full fleet electrification could reduce up to one billion tonnes of CO₂ emissions by 2030.

Operating expenditure advantages are already visible across key fleet segments. The report shows that electric cars and light commercial vehicles can deliver meaningful per-kilometer operating cost savings compared with internal combustion engine equivalents, particularly where depot or home charging dominates. Electric trucks can also achieve lower operating costs on defined routes where charging strategy and CO₂-based tolling frameworks align.

However, the report makes it clear that operating cost advantages alone will not drive scale. Total cost of ownership remains influenced by higher upfront vehicle prices, residual value uncertainty, uneven incentive structures and delays in grid connection and charging deployment.

Constantin M. Gall, EY Global Aerospace, Defense & Mobility Leader, says:

“The report shows that fleet electrification is already delivering operating–cost advantages in many fleet segments; however, total cost of ownership is still burdened by several structural constraints given the nascency of this new ecosystem and the ongoing change process. Upfront cost disadvantages, residual–value risk, fragmented policy frameworks, and grid bottlenecks are slowing investment decisions into BEVs. The ability to address these barriers will determine how quickly fleet electrification can scale.”

According to the report, coordinated action is required across the ecosystem. Fleet operators must align vehicles with real duty cycles and maximize depot-based smart charging, which the report identifies as a key lever to reduce energy costs and improve operating margins. OEMs must narrow upfront price gaps, improve battery transparency and strengthen residual value confidence through buyback programs and standardized data. Policymakers must provide stable, multi-year fiscal and regulatory certainty. Grid operators and energy providers must accelerate connection timelines and invest in anticipatory capacity to support electrified depots and charging corridors. Financiers and leasing providers must scale bundled and risk-sharing models that reduce balance sheet exposure.

Kristian Ruby, Secretary General of Eurelectric, says:

“In the EU, 6 out of 10 new vehicles are sold to fleet owners, so the potential to save money and emissions is enormous. A well-designed fleet initiative can boost demand for BEVs to the benefit of European Industry and energy independence.”

The report highlights that progress is real and the economic case is strengthening, but unlocking the full value of fleet electrification depends on practical coordination across industry, energy and policy actors.

Read the full EY–Eurelectric report here.

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/fleet-electrification-could-unlock-nearly-a-quartertrillion-dollars-in-operatingcost-savings-but-only-if-structural-barriers-are-tackled-jointly-across-the-ecosystem-eyeurelectric-report-302705252.html

SOURCE EY

• Opex benefits are emerging, but TCO is still held back by early–stage ecosystem constraints
• Upfront cost gaps, residual value doubts and policy and grid inconsistencies are slowing BEV investment
• Scaling will depend on coordinated action across the ecosystem to remove these barriers

LONDON, March 5, 2026 /PRNewswire/ — Corporate fleet electrification represents a significant economic and climate opportunity for Europe, according to the EY–Eurelectric report Fleet Forward: powering the transition to electric mobility.

The report finds that transitioning Europe’s corporate fleets could unlock up to €246 billion in cumulative operating cost savings by 2030. It also estimates that full fleet electrification could reduce up to one billion tonnes of CO₂ emissions by 2030.

Operating expenditure advantages are already visible across key fleet segments. The report shows that electric cars and light commercial vehicles can deliver meaningful per-kilometer operating cost savings compared with internal combustion engine equivalents, particularly where depot or home charging dominates. Electric trucks can also achieve lower operating costs on defined routes where charging strategy and CO₂-based tolling frameworks align.

However, the report makes it clear that operating cost advantages alone will not drive scale. Total cost of ownership remains influenced by higher upfront vehicle prices, residual value uncertainty, uneven incentive structures and delays in grid connection and charging deployment.

Constantin M. Gall, EY Global Aerospace, Defense & Mobility Leader, says:

“The report shows that fleet electrification is already delivering operating–cost advantages in many fleet segments; however, total cost of ownership is still burdened by several structural constraints given the nascency of this new ecosystem and the ongoing change process. Upfront cost disadvantages, residual–value risk, fragmented policy frameworks, and grid bottlenecks are slowing investment decisions into BEVs. The ability to address these barriers will determine how quickly fleet electrification can scale.”

According to the report, coordinated action is required across the ecosystem. Fleet operators must align vehicles with real duty cycles and maximize depot-based smart charging, which the report identifies as a key lever to reduce energy costs and improve operating margins. OEMs must narrow upfront price gaps, improve battery transparency and strengthen residual value confidence through buyback programs and standardized data. Policymakers must provide stable, multi-year fiscal and regulatory certainty. Grid operators and energy providers must accelerate connection timelines and invest in anticipatory capacity to support electrified depots and charging corridors. Financiers and leasing providers must scale bundled and risk-sharing models that reduce balance sheet exposure.

Kristian Ruby, Secretary General of Eurelectric, says:

“In the EU, 6 out of 10 new vehicles are sold to fleet owners, so the potential to save money and emissions is enormous. A well-designed fleet initiative can boost demand for BEVs to the benefit of European Industry and energy independence.”

The report highlights that progress is real and the economic case is strengthening, but unlocking the full value of fleet electrification depends on practical coordination across industry, energy and policy actors.

Read the full EY–Eurelectric report here.

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/fleet-electrification-could-unlock-nearly-a-quartertrillion-dollars-in-operatingcost-savings-but-only-if-structural-barriers-are-tackled-jointly-across-the-ecosystem-eyeurelectric-report-302705252.html

SOURCE EY

DUBAI, UAE, March 5, 2026 /PRNewswire/ — Hikvision has been honored with the inaugural DMCC Global Enterprise ESG Leader Award. This award highlights the company’s continuous dedication to responsible growth and environmental, social, and governance (ESG) excellence, including its impactful localized contributions in the Middle East.

Home to over 26,000 companies, the Dubai Multi Commodities Centre (DMCC) is recognized as the No. 1 Global Free Zone by the Financial Times’ fDi Intelligence. As a newly launched initiative, the Pioneers of Sustainability Awards honor DMCC member companies that demonstrate measurable ESG progress, aligning with both UAE national priorities and international standards.

“As a global AIoT leader, Hikvision has successfully integrated sustainability into the core of its business, driven by continuous innovation,” stated Evgeny Garanin, DMCC’s Associate Director for Corporate Sustainability. “This award recognizes their commitment to creating lasting value for customers, advancing social well-being, and fulfilling their global responsibilities.”

Hikvision’s ESG performances align closely with the three pillars evaluated by the DMCC:

Advancing Green Development through AIoT

Hikvision places green development at the core of its sustainability strategy, integrating eco-friendly measures throughout the entire product lifecycle. By continuously optimizing energy efficiency and driving low-carbon manufacturing, the company actively minimizes its footprint while delivering greener AIoT solutions. A testament to this commitment, in September 2025, Hikvision WonderHub earned the distinction of being the world’s first large-format display to achieve TCO Certified Generation 10, underscoring the company’s ongoing efforts to deliver low-carbon and efficient solutions to its global customers.

Fostering Social Good and Community Care

Hikvision leverages its technology to enhance social well-being guided by its “Tech for Good” principle. A strong example is its global STAR Program for Social Good, which empowers non-profits to preserve natural and cultural heritage through AIoT technology. To date, the company has collaborated with over 30 non-profits in 14 countries and regions. Beyond global reach, Hikvision remains deeply committed to local welfare, exemplified by its flagship Ramadan care campaign in Dubai. Now in its third consecutive year, the initiative ensures the nutritional well-being of frontline workers during Ramadan, showcasing Hikvision’s genuine and enduring care for the community it serves.

Upholding Transparency and Robust Integrity

Robust, transparent, and ethical governance forms the cornerstone of Hikvision’s operations, consistently embedding international compliance standards and best practices — spanning cybersecurity, data privacy, and human rights — into its full lifecycle of R&D, manufacturing, sales, and operations. In recognition of its integrity practices, Hikvision was awarded the ISO 37301 certification in December 2025 for its compliance management system, reflecting the company’s unwavering commitment to trust and accountability.

The DMCC Global Enterprise ESG Leader Award marks a significant step in Hikvision’s sustainability journey, echoing the company’s active practices of the UNGC Ten Principles following its participation in 2024. Moving forward, Hikvision will continue to champion sustainable development, ensuring that every innovation contributes to a more secure and better world.

For more information about Hikvision’s sustainability efforts, please visit the Sustainability Webpage.

View original content to download multimedia:https://www.prnewswire.com/news-releases/hikvision-awarded-the-dmcc-global-enterprise-esg-leader-award-302705116.html

SOURCE Hikvision Digital Technology

BEIJING, March 4, 2026 /PRNewswire/ — A report from China Daily

Yichang, a city featuring the world’s largest hydropower project on the Yangtze River, is driving China’s clean energy transition while revitalizing its ecosystem and culture.

From the majestic Three Gorges, Yichang in Central China’s Hubei province is nurtured by the mighty Yangtze River, which courses through mountain barriers before slowing its pace here. The city stands as a global capital of hydropower, where waters and mountains unite in harmony, blue and green hues intertwine, and humanity blends with the urban landscape.

Yichang, a major regional hub connecting the middle and upper reaches of the Yangtze River, is home to both the Gezhouba Dam — known as the first dam on the mighty Yangtze — and the Three Gorges Dam, the world’s largest hydropower project. Together, they have enabled this city, covering only 0.2 percent of China’s land area, to provide electricity to a vast portion of the country.

The sound that emanates from these dams is not merely the spin of turbines; it is the green heartbeat of the Yangtze, a powerful rhythm of clean, low-carbon energy and an ecological echo that reverberates with a commitment to protect the great river.

The Three Gorges of the Yangtze River form one of the major canyons in the world that can be fully explored by boat. Aboard the Yangtze River Three Gorges 1 — the world’s largest electric cruise ship — visitors can tour the Three Gorges Dam, the Gezhouba Dam and the Xiling Gorge. The journey offers views of the nation’s monumental engineering feats, the majestic beauty of Xiling Gorge and the vast reservoir cradled by steep cliffs.

In 2025, Yichang welcomed 140 million domestic tourists and more than 400,000 international visitors. They came to experience a poetic voyage that weaves between modern marvels and natural wonders.

Beneath the river’s surface, life thrives again. The Yangtze finless porpoise, an indicator species of the river’s ecosystem that was once on the verge of disappearing, has made a remarkable comeback. Known as the “smiling angel of the Yangtze”, these porpoises now gather in groups, leaping and playing in the waves.

Along the riverfront in Yichang, spotting and photographing the porpoises has become a common occurrence. It is a powerful testament to the ecological restoration along the Yangtze River.

If the dams and the finless porpoises represent Yichang’s strength and grace, poetry has long been the soul of its romance.

Over 2,300 years ago, Qu Yuan — honored as a world cultural and historical figure — stood by the river and penned the masterpiece Tian Wen (Heavenly Questions), etching a poetic spirit into the heart of Chinese civilization.

Alongside its heritage, Yichang’s navel oranges have also journeyed across the world, earning the moniker “diplomats on the Yangtze”. Ripened under the unique sunlight and rains of the Three Gorges region, they travel along the golden waterway of the Yangtze, reaching distant shores and adding a bright, sweet note to dining tables globally. This voyage of Yichang’s oranges is a reflection of how an inland city embraces the world with openness and shared prosperity.

In Yichang, world-class natural wonders, engineering feats and cultural heritage converge and resonate, shaping a vibrant city and the “green heart” of the Yangtze River. Beating with an authentic rhythm, it sends forth to the world a vision of China’s beauty.

View original content to download multimedia:https://www.prnewswire.com/news-releases/yichang-the-green-heartbeat-of-the-yangtze-302704755.html

SOURCE China Daily

BEIJING, March 4, 2026 /PRNewswire/ — A report from China Daily

Yichang, a city featuring the world’s largest hydropower project on the Yangtze River, is driving China’s clean energy transition while revitalizing its ecosystem and culture.

From the majestic Three Gorges, Yichang in Central China’s Hubei province is nurtured by the mighty Yangtze River, which courses through mountain barriers before slowing its pace here. The city stands as a global capital of hydropower, where waters and mountains unite in harmony, blue and green hues intertwine, and humanity blends with the urban landscape.

Yichang, a major regional hub connecting the middle and upper reaches of the Yangtze River, is home to both the Gezhouba Dam — known as the first dam on the mighty Yangtze — and the Three Gorges Dam, the world’s largest hydropower project. Together, they have enabled this city, covering only 0.2 percent of China’s land area, to provide electricity to a vast portion of the country.

The sound that emanates from these dams is not merely the spin of turbines; it is the green heartbeat of the Yangtze, a powerful rhythm of clean, low-carbon energy and an ecological echo that reverberates with a commitment to protect the great river.

The Three Gorges of the Yangtze River form one of the major canyons in the world that can be fully explored by boat. Aboard the Yangtze River Three Gorges 1 — the world’s largest electric cruise ship — visitors can tour the Three Gorges Dam, the Gezhouba Dam and the Xiling Gorge. The journey offers views of the nation’s monumental engineering feats, the majestic beauty of Xiling Gorge and the vast reservoir cradled by steep cliffs.

In 2025, Yichang welcomed 140 million domestic tourists and more than 400,000 international visitors. They came to experience a poetic voyage that weaves between modern marvels and natural wonders.

Beneath the river’s surface, life thrives again. The Yangtze finless porpoise, an indicator species of the river’s ecosystem that was once on the verge of disappearing, has made a remarkable comeback. Known as the “smiling angel of the Yangtze”, these porpoises now gather in groups, leaping and playing in the waves.

Along the riverfront in Yichang, spotting and photographing the porpoises has become a common occurrence. It is a powerful testament to the ecological restoration along the Yangtze River.

If the dams and the finless porpoises represent Yichang’s strength and grace, poetry has long been the soul of its romance.

Over 2,300 years ago, Qu Yuan — honored as a world cultural and historical figure — stood by the river and penned the masterpiece Tian Wen (Heavenly Questions), etching a poetic spirit into the heart of Chinese civilization.

Alongside its heritage, Yichang’s navel oranges have also journeyed across the world, earning the moniker “diplomats on the Yangtze”. Ripened under the unique sunlight and rains of the Three Gorges region, they travel along the golden waterway of the Yangtze, reaching distant shores and adding a bright, sweet note to dining tables globally. This voyage of Yichang’s oranges is a reflection of how an inland city embraces the world with openness and shared prosperity.

In Yichang, world-class natural wonders, engineering feats and cultural heritage converge and resonate, shaping a vibrant city and the “green heart” of the Yangtze River. Beating with an authentic rhythm, it sends forth to the world a vision of China’s beauty.

View original content to download multimedia:https://www.prnewswire.com/news-releases/yichang-the-green-heartbeat-of-the-yangtze-302704755.html

SOURCE China Daily

BEIJING, March 4, 2026 /PRNewswire/ — A report from China Daily

Yichang, a city featuring the world’s largest hydropower project on the Yangtze River, is driving China’s clean energy transition while revitalizing its ecosystem and culture.

From the majestic Three Gorges, Yichang in Central China’s Hubei province is nurtured by the mighty Yangtze River, which courses through mountain barriers before slowing its pace here. The city stands as a global capital of hydropower, where waters and mountains unite in harmony, blue and green hues intertwine, and humanity blends with the urban landscape.

Yichang, a major regional hub connecting the middle and upper reaches of the Yangtze River, is home to both the Gezhouba Dam — known as the first dam on the mighty Yangtze — and the Three Gorges Dam, the world’s largest hydropower project. Together, they have enabled this city, covering only 0.2 percent of China’s land area, to provide electricity to a vast portion of the country.

The sound that emanates from these dams is not merely the spin of turbines; it is the green heartbeat of the Yangtze, a powerful rhythm of clean, low-carbon energy and an ecological echo that reverberates with a commitment to protect the great river.

The Three Gorges of the Yangtze River form one of the major canyons in the world that can be fully explored by boat. Aboard the Yangtze River Three Gorges 1 — the world’s largest electric cruise ship — visitors can tour the Three Gorges Dam, the Gezhouba Dam and the Xiling Gorge. The journey offers views of the nation’s monumental engineering feats, the majestic beauty of Xiling Gorge and the vast reservoir cradled by steep cliffs.

In 2025, Yichang welcomed 140 million domestic tourists and more than 400,000 international visitors. They came to experience a poetic voyage that weaves between modern marvels and natural wonders.

Beneath the river’s surface, life thrives again. The Yangtze finless porpoise, an indicator species of the river’s ecosystem that was once on the verge of disappearing, has made a remarkable comeback. Known as the “smiling angel of the Yangtze”, these porpoises now gather in groups, leaping and playing in the waves.

Along the riverfront in Yichang, spotting and photographing the porpoises has become a common occurrence. It is a powerful testament to the ecological restoration along the Yangtze River.

If the dams and the finless porpoises represent Yichang’s strength and grace, poetry has long been the soul of its romance.

Over 2,300 years ago, Qu Yuan — honored as a world cultural and historical figure — stood by the river and penned the masterpiece Tian Wen (Heavenly Questions), etching a poetic spirit into the heart of Chinese civilization.

Alongside its heritage, Yichang’s navel oranges have also journeyed across the world, earning the moniker “diplomats on the Yangtze”. Ripened under the unique sunlight and rains of the Three Gorges region, they travel along the golden waterway of the Yangtze, reaching distant shores and adding a bright, sweet note to dining tables globally. This voyage of Yichang’s oranges is a reflection of how an inland city embraces the world with openness and shared prosperity.

In Yichang, world-class natural wonders, engineering feats and cultural heritage converge and resonate, shaping a vibrant city and the “green heart” of the Yangtze River. Beating with an authentic rhythm, it sends forth to the world a vision of China’s beauty.

View original content to download multimedia:https://www.prnewswire.com/news-releases/yichang-the-green-heartbeat-of-the-yangtze-302704755.html

SOURCE China Daily

New development adds long-term housing stability for low-income households in South Los Angeles

LOS ANGELES, March 4, 2026 /PRNewswire/ — More South Los Angeles residents will soon have a stable place to call home. Today, Eleos and Health Net marked the start of construction on a new 37-unit affordable housing community at 5637 S. Broadway in South Los Angeles.

The project was made possible in part by a $550K investment from Health Net, which helped close the remaining funding gap and advance construction of the 100% affordable development. This is a 100% affordable development — all 37 homes are income-restricted and intended for households with low incomes, rather than a mix of market-rate and affordable units. Community leaders and partners gathered at the site to recognize what this project will deliver for the neighborhood: more housing stability, fewer families priced out of the community, and a clearer path to long-term well-being.

“This project reflects what we’re working toward at Eleos: delivering high-quality affordable housing faster, more efficiently, and through meaningful partnerships,” said David Aghaei, co-founder and principal of Eleos. “By combining private financing, streamlined policy and philanthropic support, we’re showing it’s possible to move projects forward without delay and without compromising on quality.”

“Congratulations to Eleos Ventures on breaking ground on 37-new homes in our South Los Angeles community,” said Los Angeles County Supervisor Holly J. Mitchell. “Eleos and Health Net are showing what’s possible with public and private partnerships, together putting residents first. These 37 new homes will strengthen this corridor, improve health outcomes, and help families build a more secure future right here in South L.A.”

Faster approvals — without waiting years to start building

The South Broadway development received entitlements and permits in nine months under Mayor Karen Bass’ Executive Directive 1; the City’s streamlined approval pathway designed to accelerate housing. Unlike many affordable housing developments, the project is privately financed and delivered without public subsidy, applying discipline, speed and cost efficiency to housing residents with the greatest need.

“Too many families are priced out of safe, stable housing — even when they’re working full time and doing everything right,” said Daniel Dayan, co-founder and principal of Eleos. “This development reflects our commitment to closing that gap and creating homes that strengthen neighborhoods and support long-term stability.”

Health Net partnership helps close the gap

The project was supported in part by Health Net, whose grant helped close the remaining funding gap and expand access for residents with the greatest need. Since 2020, Health Net has committed $93 million to housing and homelessness initiatives across California, advancing long‑term stability and improved health outcomes for communities most in need.

“Safe, stable housing changes everything — it improves health, strengthens job stability and protects childhoods,” said Dorothy Seleski, Medi-Cal President at Health Net. “We’re proud to partner with Eleos to bring affordable homes to South Los Angeles, because when families have a secure place to live, they can focus on getting healthier, working to provide for their families and staying rooted in their neighborhood. Our grant helped close the final funding gap so this community can move from uncertainty to stability, and we’ll continue investing in practical solutions that give residents real opportunity for long-term well-being.”

Eleos will serve as both the developer and operator of the South Broadway community. Across Los Angeles, Eleos has more than 1,300 housing units completed, under construction, or in its active pipeline. Eleos also works with nonprofit service providers and public agencies to support successful lease-up and long-term stability. Many Eleos properties serve residents who have experienced homelessness, rely on housing vouchers, or fall within the “missing middle” income range that often lacks access to traditional subsidies.

What’s next

Construction is now underway, with completion anticipated in summer or fall of 2027.

About Health Net
Founded in California more than 45 years ago, Health Net, LLC (“Health Net”), a company of Centene Corporation, believes that every person deserves a safety net for their health, regardless of age, income, employment status or current state of health. Today, we provide health plans for individuals, families, businesses of every size and people who qualify for Medi-Cal or Medicare. With more than 117,000 of our network providers, Health Net serves more than three million members across the state. We also offer access to substance abuse programs, behavioral health services and managed healthcare products related to prescription drugs. We make these health plans and services available through Health Net and its subsidiaries: Health Net of California, Inc., Health Net Life Insurance Company and Health Net Community Solutions, Inc. These entities are wholly owned subsidiaries of Centene Corporation (NYSE: CNC), a leading healthcare enterprise committed to transforming the health of the communities we serve, one person at a time. Health Net and Centene Corporation employ more than 5,700 people in California who work at one of five regional Talent Hub offices. For more information, visit www.HealthNet.com.

About Eleos
Eleos was founded with one goal in mind –– to change the space that people live, work and play in for the better. And all of this was fueled by the housing crisis in Los Angeles, which brought to bear the dire need for affordable solutions for our fellow residents who are seemingly forgotten by the current market-rate housing mix. Eleos regularly works with institutions to apply its expertise and resources to a new model of privately funded affordable housing solutions that drive lasting, permanent change. For additional information about Eleos, visit https://www.eleos.la/.

View original content to download multimedia:https://www.prnewswire.com/news-releases/south-la-residents-gain-37-new-affordable-homes-as-eleos-and-health-net-break-ground-at-5637-s-broadway-302704737.html

SOURCE Health Net

New development adds long-term housing stability for low-income households in South Los Angeles

LOS ANGELES, March 4, 2026 /PRNewswire/ — More South Los Angeles residents will soon have a stable place to call home. Today, Eleos and Health Net marked the start of construction on a new 37-unit affordable housing community at 5637 S. Broadway in South Los Angeles.

The project was made possible in part by a $550K investment from Health Net, which helped close the remaining funding gap and advance construction of the 100% affordable development. This is a 100% affordable development — all 37 homes are income-restricted and intended for households with low incomes, rather than a mix of market-rate and affordable units. Community leaders and partners gathered at the site to recognize what this project will deliver for the neighborhood: more housing stability, fewer families priced out of the community, and a clearer path to long-term well-being.

“This project reflects what we’re working toward at Eleos: delivering high-quality affordable housing faster, more efficiently, and through meaningful partnerships,” said David Aghaei, co-founder and principal of Eleos. “By combining private financing, streamlined policy and philanthropic support, we’re showing it’s possible to move projects forward without delay and without compromising on quality.”

“Congratulations to Eleos Ventures on breaking ground on 37-new homes in our South Los Angeles community,” said Los Angeles County Supervisor Holly J. Mitchell. “Eleos and Health Net are showing what’s possible with public and private partnerships, together putting residents first. These 37 new homes will strengthen this corridor, improve health outcomes, and help families build a more secure future right here in South L.A.”

Faster approvals — without waiting years to start building

The South Broadway development received entitlements and permits in nine months under Mayor Karen Bass’ Executive Directive 1; the City’s streamlined approval pathway designed to accelerate housing. Unlike many affordable housing developments, the project is privately financed and delivered without public subsidy, applying discipline, speed and cost efficiency to housing residents with the greatest need.

“Too many families are priced out of safe, stable housing — even when they’re working full time and doing everything right,” said Daniel Dayan, co-founder and principal of Eleos. “This development reflects our commitment to closing that gap and creating homes that strengthen neighborhoods and support long-term stability.”

Health Net partnership helps close the gap

The project was supported in part by Health Net, whose grant helped close the remaining funding gap and expand access for residents with the greatest need. Since 2020, Health Net has committed $93 million to housing and homelessness initiatives across California, advancing long‑term stability and improved health outcomes for communities most in need.

“Safe, stable housing changes everything — it improves health, strengthens job stability and protects childhoods,” said Dorothy Seleski, Medi-Cal President at Health Net. “We’re proud to partner with Eleos to bring affordable homes to South Los Angeles, because when families have a secure place to live, they can focus on getting healthier, working to provide for their families and staying rooted in their neighborhood. Our grant helped close the final funding gap so this community can move from uncertainty to stability, and we’ll continue investing in practical solutions that give residents real opportunity for long-term well-being.”

Eleos will serve as both the developer and operator of the South Broadway community. Across Los Angeles, Eleos has more than 1,300 housing units completed, under construction, or in its active pipeline. Eleos also works with nonprofit service providers and public agencies to support successful lease-up and long-term stability. Many Eleos properties serve residents who have experienced homelessness, rely on housing vouchers, or fall within the “missing middle” income range that often lacks access to traditional subsidies.

What’s next

Construction is now underway, with completion anticipated in summer or fall of 2027.

About Health Net
Founded in California more than 45 years ago, Health Net, LLC (“Health Net”), a company of Centene Corporation, believes that every person deserves a safety net for their health, regardless of age, income, employment status or current state of health. Today, we provide health plans for individuals, families, businesses of every size and people who qualify for Medi-Cal or Medicare. With more than 117,000 of our network providers, Health Net serves more than three million members across the state. We also offer access to substance abuse programs, behavioral health services and managed healthcare products related to prescription drugs. We make these health plans and services available through Health Net and its subsidiaries: Health Net of California, Inc., Health Net Life Insurance Company and Health Net Community Solutions, Inc. These entities are wholly owned subsidiaries of Centene Corporation (NYSE: CNC), a leading healthcare enterprise committed to transforming the health of the communities we serve, one person at a time. Health Net and Centene Corporation employ more than 5,700 people in California who work at one of five regional Talent Hub offices. For more information, visit www.HealthNet.com.

About Eleos
Eleos was founded with one goal in mind –– to change the space that people live, work and play in for the better. And all of this was fueled by the housing crisis in Los Angeles, which brought to bear the dire need for affordable solutions for our fellow residents who are seemingly forgotten by the current market-rate housing mix. Eleos regularly works with institutions to apply its expertise and resources to a new model of privately funded affordable housing solutions that drive lasting, permanent change. For additional information about Eleos, visit https://www.eleos.la/.

View original content to download multimedia:https://www.prnewswire.com/news-releases/south-la-residents-gain-37-new-affordable-homes-as-eleos-and-health-net-break-ground-at-5637-s-broadway-302704737.html

SOURCE Health Net

New development adds long-term housing stability for low-income households in South Los Angeles

LOS ANGELES, March 4, 2026 /PRNewswire/ — More South Los Angeles residents will soon have a stable place to call home. Today, Eleos and Health Net marked the start of construction on a new 37-unit affordable housing community at 5637 S. Broadway in South Los Angeles.

The project was made possible in part by a $550K investment from Health Net, which helped close the remaining funding gap and advance construction of the 100% affordable development. This is a 100% affordable development — all 37 homes are income-restricted and intended for households with low incomes, rather than a mix of market-rate and affordable units. Community leaders and partners gathered at the site to recognize what this project will deliver for the neighborhood: more housing stability, fewer families priced out of the community, and a clearer path to long-term well-being.

“This project reflects what we’re working toward at Eleos: delivering high-quality affordable housing faster, more efficiently, and through meaningful partnerships,” said David Aghaei, co-founder and principal of Eleos. “By combining private financing, streamlined policy and philanthropic support, we’re showing it’s possible to move projects forward without delay and without compromising on quality.”

“Congratulations to Eleos Ventures on breaking ground on 37-new homes in our South Los Angeles community,” said Los Angeles County Supervisor Holly J. Mitchell. “Eleos and Health Net are showing what’s possible with public and private partnerships, together putting residents first. These 37 new homes will strengthen this corridor, improve health outcomes, and help families build a more secure future right here in South L.A.”

Faster approvals — without waiting years to start building

The South Broadway development received entitlements and permits in nine months under Mayor Karen Bass’ Executive Directive 1; the City’s streamlined approval pathway designed to accelerate housing. Unlike many affordable housing developments, the project is privately financed and delivered without public subsidy, applying discipline, speed and cost efficiency to housing residents with the greatest need.

“Too many families are priced out of safe, stable housing — even when they’re working full time and doing everything right,” said Daniel Dayan, co-founder and principal of Eleos. “This development reflects our commitment to closing that gap and creating homes that strengthen neighborhoods and support long-term stability.”

Health Net partnership helps close the gap

The project was supported in part by Health Net, whose grant helped close the remaining funding gap and expand access for residents with the greatest need. Since 2020, Health Net has committed $93 million to housing and homelessness initiatives across California, advancing long‑term stability and improved health outcomes for communities most in need.

“Safe, stable housing changes everything — it improves health, strengthens job stability and protects childhoods,” said Dorothy Seleski, Medi-Cal President at Health Net. “We’re proud to partner with Eleos to bring affordable homes to South Los Angeles, because when families have a secure place to live, they can focus on getting healthier, working to provide for their families and staying rooted in their neighborhood. Our grant helped close the final funding gap so this community can move from uncertainty to stability, and we’ll continue investing in practical solutions that give residents real opportunity for long-term well-being.”

Eleos will serve as both the developer and operator of the South Broadway community. Across Los Angeles, Eleos has more than 1,300 housing units completed, under construction, or in its active pipeline. Eleos also works with nonprofit service providers and public agencies to support successful lease-up and long-term stability. Many Eleos properties serve residents who have experienced homelessness, rely on housing vouchers, or fall within the “missing middle” income range that often lacks access to traditional subsidies.

What’s next

Construction is now underway, with completion anticipated in summer or fall of 2027.

About Health Net
Founded in California more than 45 years ago, Health Net, LLC (“Health Net”), a company of Centene Corporation, believes that every person deserves a safety net for their health, regardless of age, income, employment status or current state of health. Today, we provide health plans for individuals, families, businesses of every size and people who qualify for Medi-Cal or Medicare. With more than 117,000 of our network providers, Health Net serves more than three million members across the state. We also offer access to substance abuse programs, behavioral health services and managed healthcare products related to prescription drugs. We make these health plans and services available through Health Net and its subsidiaries: Health Net of California, Inc., Health Net Life Insurance Company and Health Net Community Solutions, Inc. These entities are wholly owned subsidiaries of Centene Corporation (NYSE: CNC), a leading healthcare enterprise committed to transforming the health of the communities we serve, one person at a time. Health Net and Centene Corporation employ more than 5,700 people in California who work at one of five regional Talent Hub offices. For more information, visit www.HealthNet.com.

About Eleos
Eleos was founded with one goal in mind –– to change the space that people live, work and play in for the better. And all of this was fueled by the housing crisis in Los Angeles, which brought to bear the dire need for affordable solutions for our fellow residents who are seemingly forgotten by the current market-rate housing mix. Eleos regularly works with institutions to apply its expertise and resources to a new model of privately funded affordable housing solutions that drive lasting, permanent change. For additional information about Eleos, visit https://www.eleos.la/.

View original content to download multimedia:https://www.prnewswire.com/news-releases/south-la-residents-gain-37-new-affordable-homes-as-eleos-and-health-net-break-ground-at-5637-s-broadway-302704737.html

SOURCE Health Net