The European Bank for Reconstruction and Development (EBRD) is providing a €50 million loan to Turkish leasing company TEB Arval to support the acquisition of 1,200 electric and plug-in hybrid vehicles, advancing the country’s transition to low-carbon mobility.
TEB Arval, a 50:50 joint venture between TEB Holding A.S. and Arval Service Lease SA, aims to significantly expand the share of electric vehicles in its fleet by 2027.
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“By integrating electric vehicles into its fleet, the company is not only reducing its carbon footprint but also setting a precedent for the industry,” said Mehmet Erdem Yasar, Deputy Head of the EBRD for Turkey.
The leasing firm offers a full range of electric vehicle leasing solutions, including consultancy, charging infrastructure, backup vehicles, and driver training. “This collaboration with the EBRD marks a significant step towards promoting low-carbon transport across the country,” said TEB Arval CEO Kağan Yaşa.
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Arval, a globally active leasing group, and TEB Holding, a joint venture between BNP Paribas Fortis Yatirimlar and the Colakoglu Group, established TEB Arval in 2007.
The EBRD’s financial backing is expected to accelerate the company’s efforts to shape the fleet leasing sector with sustainable mobility solutions in Turkey.