Drivalia secures €48 million EIB financing to boost electric mobility in Italy and Finland

Drivalia, a Rome-based rental and mobility company of the Crédit Agricole Auto Bank (CAAB) group, and the European Investment Bank (EIB) have signed a €48 million financing agreement to support the development of electric mobility in Italy and Finland. 

This EIB financing will enable Drivalia to put nearly 2,900 new battery electric vehicles (BEVs) into circulation, destined for companies and freelancers in Italy and Finland through long-term rental contracts. As per EIB estimates, the project will reduce greenhouse gas emissions by approximately 3,000 tonnes of CO₂ per year compared to a similar fleet composed of conventional internal combustion engine vehicles.

Roberto Sportiello, CEO of Drivalia, said, “We are proud of this agreement with the EIB, which represents an important milestone on our journey towards democratic, zero-impact mobility. Thanks to this financing, we will be able to further accelerate the electrification of corporate fleets in Italy and Finland. At Drivalia, our goal is to lead the energy transition by offering flexible, integrated, and sustainable solutions capable of accompanying businesses towards a more environmentally friendly future.”

Drivalia offers a complete range of mobility solutions, from electric car sharing to innovative car subscriptions and rentals of all durations. Drivalia manages 360° mobility, offering innovative formulas that combine flexibility, digital use, an on-demand approach, and sustainability. It is present in 16 European countries with a fleet of approximately 216,000 vehicles.

In June 2019, the company inaugurated its network of Mobility Stores, physical outlets where customers can access all the mobility services offered by the company. Its first fully electrified Mobility Store was launched at Turin Caselle airport in 2020, followed by many others. It has over 1,900 charging points currently installed across all stores.

Earlier this month, the company announced that it is CarCloud 2027, the evolution of its monthly car subscription, designed to allow private individuals and professionals to plan their post-summer return to daily life in advance and activate the service starting from September. 

CarCloud 2027 allows customers to book a subscription today that will become operational in the month of September, skipping the summer months but locking in the most advantageous rates immediately.

Last month, the company launched Drive to Buy, a long-term rental product designed to satisfy the mobility requirements of the corporate sector and freelancers. Drivalia says it aims to give businesses and professionals the option to rent a car today and, if Drivalia later chooses to sell the vehicle, buy it tomorrow, thereby reducing uncertainty about its future value.

The formula lets customers drive a vehicle while paying a fixed monthly fee. At the end of the 48- or 60-month rental contract, if Drivalia decides to sell the vehicle, the customer can choose to return the car or buy it at a predefined, agreed-upon price by exercising their right of first refusal.

The agreement supports the strategies of both the EIB, the EU climate bank, and the Crédit Agricole Auto Bank group in favour of increasingly sustainable mobility, driven by the progressive increase of the electric and plug-in hybrid component within the fleet of Drivalia, which operates in the main European markets.

“The adoption of electric mobility is an essential component of the energy transition in Europe. With this operation, the EIB is supporting a project that accelerates the deployment of zero-emission vehicles in two markets with very different dynamics, contributing to the achievement of European climate goals and offering new sustainable solutions to businesses,” declared Gelsomina Vigliotti, Vice-President of the EIB.