Drivalia has secured €48 million in financing from the European Investment Bank (EIB) to expand its electric vehicle fleet, with plans to deploy approximately 2,900 battery-electric vehicles for corporate customers in Italy and Finland.
The new vehicles will be offered to businesses and self-employed professionals through long-term leasing agreements.
Financing Supports Fleet Electrification
According to the EIB, the investment is expected to reduce carbon dioxide emissions by around 3,000 tonnes annually compared with an equivalent fleet powered by internal combustion engines.
The financing forms part of the EIB’s broader strategy to support low-emission transport and accelerate the adoption of electric mobility across Europe.
Expanding Electric Mobility
Drivalia operates in 16 European countries and manages a fleet of approximately 216,000 vehicles.
The company provides a range of mobility services including short-, medium- and long-term vehicle rental, vehicle subscriptions, electric car sharing and leasing.
The latest investment is intended to increase the share of battery-electric vehicles within Drivalia’s fleet while supporting the electrification of corporate transport in Italy and Finland.
Supporting Climate Objectives
The EIB said the transaction aligns with the climate objectives of both the bank and Drivalia’s parent company, CA Auto Bank, which is part of the Crédit Agricole Group.
Gelsomina Vigliotti, Vice-President of the EIB, said the financing supports the wider deployment of zero-emission vehicles in markets with different levels of electric vehicle adoption.
Roberto Sportiello, Chief Executive Officer of Drivalia, said the agreement will help accelerate the company’s plans to expand electric mobility solutions for business customers.
Mobility Business
Drivalia was established in late 2022 following the restructuring of the former FCA Bank’s mobility and rental operations after Crédit Agricole assumed full ownership of the banking business.
Operating as the mobility subsidiary of CA Auto Bank, the company has since expanded its portfolio of manufacturer-independent mobility services across Europe, focusing on leasing, vehicle rental, subscriptions and shared mobility solutions.
