The European Investment Bank (EIB) has pledged approximately 40 million euros to support Eldrive, a charging infrastructure operator, in constructing a total of 10,574 new charging stations for electric vehicles. The funding will be utilized for projects in Bulgaria, Romania, Lithuania, and Latvia. The overall cost of the initiative is estimated at around 174 million euros, with no specific timeline provided by the EIB.
Eldrive, headquartered in Bulgaria but with offices in all three aforementioned countries, currently operates over 700 charging points in Bulgaria, Romania, and Lithuania. The company was previously mentioned in relation to OMV Petrom’s plans to expand its charging network in Southeast Europe towards the end of 2021.
The EIB justifies its financial support by emphasizing its commitment to promoting the electrification of road transport across Europe. Furthermore, the project aligns with various EU policies and contributes to the achievement of decarbonization goals. Specifically, it supports the EU Green Deal’s objective of establishing one million public EV chargers and alternative fuel refueling stations by 2025. Additionally, it aligns with the Sustainable and Smart Mobility Strategy’s targets of one million EV public recharging points in the EU by 2025 and three million by 2030.
Eldrive, a subsidiary of eMobility International, a Bulgarian company established in 2014, is set to play a crucial role in advancing electric vehicle infrastructure in the region.
