Cabify has secured a €40 million loan from the European Investment Bank (EIB) to help decarbonise its fleet. The entire project will cost a total of €82 million and will see the purchase of 1,400 EVs. 

The Spanish mobility firm is set to launch a tender process in early 2023 to acquire electric vehicles and create a charging infrastructure to power zero-emission cars. 

It has been said that it will be looking for zero-emission cars with an operating range of more than 400 kilometres, as well as installing a fast-charging network around Spain.  

Juan de Antonio, CEO of Cabify, said: “We are committed to accelerating the green transition in urban mobility in every market we operate. This is our core, making cities better places to live, and sustainable mobility is key for that to happen. The decarbonisation of our fleet in Spain plays a central role in this commitment, and the European Investment Bank’s support proves this progress’s strategic impact.” 

The new project will allow Cabify to phase out all petrol-powered vehicles on its market by 2025 and then across its worldwide operations by 2030. 

This will help push the European Union’s aim to have at least 30 million zero-emission cars on its road by 2030 through its Sustainable and Smart Mobility Strategy. 

Source: Business Travel News Europe