EIB provides €48m financing to Drivalia to expand EV fleet

The European Investment Bank (EIB) has agreed a €48 million financing package with Drivalia to accelerate the rollout of electric vehicles across Italy and Finland, supporting the transition to lower-emission corporate mobility.

Announced in Rome by EIB Vice-President Gelsomina Vigliotti and Drivalia CEO Roberto Sportiello, the financing will enable Drivalia, part of the Crédit Agricole Auto Bank (CA Auto Bank) group, to deploy around 2,900 new battery electric vehicles (BEVs) through long-term rental agreements for businesses and self-employed professionals.

According to EIB estimates, replacing conventional internal combustion engine vehicles with the new electric fleet is expected to reduce greenhouse gas emissions by approximately 3,000 tonnes of CO₂ each year.

The investment forms part of Drivalia’s wider strategy to expand its sustainable mobility offering across Europe. Operating in 16 countries with a fleet of around 216,000 vehicles, the company provides a range of mobility solutions, including short, medium and long-term rentals, monthly vehicle subscriptions and electric car sharing.

Drivalia said its integrated fleet management model allows vehicles to move between different mobility services throughout their lifecycle, helping to improve operational efficiency while maximising vehicle residual values.

The agreement also supports the sustainability ambitions of both the EIB, the European Union’s climate bank, and the Crédit Agricole Auto Bank group, which continues to increase the proportion of battery electric and plug-in hybrid vehicles within Drivalia’s European fleet.

Gelsomina Vigliotti, Vice-President of the EIB, said: “The adoption of electric mobility is an essential component of the energy transition in Europe.

“With this operation, the EIB is supporting a project that accelerates the deployment of zero-emission vehicles in two markets with very different dynamics, contributing to the achievement of European climate goals and offering new sustainable solutions to businesses.”

Roberto Sportiello, CEO of Drivalia, added: “We are proud of this agreement with the EIB, which represents an important milestone on our journey towards democratic, zero-impact mobility.

“Thanks to this financing, we will be able to further accelerate the electrification of corporate fleets in Italy and Finland. At Drivalia, our goal is to lead the energy transition by offering flexible, integrated and sustainable solutions capable of accompanying businesses towards a more environmentally friendly future.”