The EIB provides 48 million to Drivalia to accelerate electric mobility in Italy and Finland

Brussels – €48 million is set to be provided to support the development of electric mobility in Italy and Finland. The European Investment Bank (EIB) and Drivalia, a company within the Crédit Agricole Auto Bank (CAAB) group, have signed the investment agreement today (29 July), which will enable around 2,900 new battery-electric vehicles to be put on the road. The announcement was made in Rome by the EIB’s Vice-President, Gelsomina Vigliotti, and Drivalia’s Chief Executive Officer, Roberto Sportiello. 

The new vehicles are intended for businesses and self-employed professionals in Italy and Finland under long-term hire contracts, a project which, according to EIB estimates, will reduce greenhouse gas emissions by around 3,000 tonnes of CO₂ per year. The investment aims to expand the company’s offering; it currently has around 216,000 vehicles across sixteen European countries. Its services include all types of hire (short-, medium-, and long-term), monthly subscriptions, and electric car-sharing. 

“The adoption of electric mobility is an essential component of the energy transition in Europe,” said Vigliotti, who reiterated that the project “accelerates the uptake of zero-emission vehicles in two markets with very different dynamics, helping to achieve European climate targets and offering new sustainable solutions to businesses.”