The European Investment Bank (EIB) is offering Cabify with a EUR 40 million mortgage to decarbonize its fleet of automobiles in Spain, by growing the provision of latest electrical automobiles and charging infrastructure throughout the nation. For this challenge, the Spanish multi-mobility firm will perform a complete funding of round EUR 82 million.
The EIB mortgage will mark the cornerstone of the deployment of 1,400 electrical automobiles (EVs) for the corporate’s ride-hailing exercise in Spain, and related EV charging (EVC) and digital infrastructure. The funding contributes to EU goals together with – phasing out CO2 emitting vehicles in city transport, selling a modal shift to extra sustainable modes to cut back congestion and air pollution in cities, and the implementation of EU laws on air high quality.
Moreover, the challenge is anticipated to end in 9 kt CO2 common emission-savings per yr, over the challenge evaluation interval because of changing typical vehicles working on fossil fuels with zero tailpipe emission EVs.
The settlement was signed in Madrid by Alessandro Izzo, Equity, Growth Capital and Project Finance Director at EIB, and Juan de Antonio, CEO of Cabify.