Title: Eldrive Secures EUR 40 Million Financing to Build Over 10,500 Charging Stations in Europe
Subtitle: European Investment Bank supports Eldrive’s mission to accelerate the electrification of the automotive sector
Date: June 20, 2023
Eldrive, the operator of public charging stations, has announced a significant milestone in its development as it secures financing of nearly EUR 40 million from the European Investment Bank (EIB). The funding is part of a total capital investment of over EUR 170 million that Eldrive plans to invest in expanding its charging infrastructure. With this support, Eldrive aims to build over 10,500 charging stations across Bulgaria, Romania, Lithuania, and Latvia.
The primary objective of the allocated funding is to accelerate the electrification of the automotive sector in Europe. By increasing the availability of charging infrastructure for electric cars, Eldrive aims to combat air pollution and contribute to the fight against climate change. The project aligns with the goals outlined in the Green Deal and the Sustainable and Smart Mobility Strategy, which aim to establish 1 million public alternative fuel charging stations in the European Union by 2025 and 3 million by 2030.
Attracting the European Investment Bank as a partner and securing this financing marks a pivotal moment in Eldrive’s journey as an operator of charging infrastructure for electric vehicles. The funding will enable the company to rapidly and efficiently expand its charging network, positioning Eldrive as one of the leading international operators in Europe.
In Bulgaria, where Eldrive operates under the brand “eMobility International,” the company already boasts over 800 charging points in its network. With more than 500 charging points in Bulgaria alone, spread across 200 locations nationwide, Eldrive currently holds nearly 50% of the available total of approximately 1,100 charging points. This market leadership further strengthens Eldrive’s position as a key player in the region.
The investment from the European Investment Bank not only supports Eldrive’s growth but also contributes to the broader goal of promoting sustainable transportation and reducing carbon emissions. As the demand for electric vehicles continues to rise, the expansion of charging infrastructure is crucial to facilitate the widespread adoption of electric mobility.
With the financial backing from the European Investment Bank, Eldrive is well-positioned to play a significant role in shaping the future of electric vehicle charging in Europe. The company’s commitment to building a robust charging network will contribute to the ongoing transition towards cleaner and greener transportation options, ultimately benefiting both the environment and consumers.
eu ev charging masterplan
Ldrive and EIB aim to encourage the adoption of electric vehicles and contribute to reducing carbon emissions in the transportation sector.
Eldrive’s ambitious plan to build over 10,500 charging stations will greatly improve the charging infrastructure in the target countries. This expansion will not only benefit current electric vehicle owners but also attract more individuals to switch to electric cars, knowing that they will have convenient access to charging facilities. The increased availability of charging stations will address the range anxiety concern, making electric vehicles a more viable option for long-distance travel.
The support from the European Investment Bank reinforces the importance of sustainable transportation in achieving Europe’s environmental goals. The loan of EUR 40 million will significantly contribute to Eldrive’s capital investment, enabling the company to execute its expansion plans efficiently. This financial backing reflects the confidence the EIB has in Eldrive’s expertise and commitment to driving cleaner and greener mobility solutions.
Eldrive’s efforts align with the broader European strategy to transition to a greener economy and reduce dependence on fossil fuels. The deployment of a large-scale charging infrastructure will facilitate the transition to electric vehicles, reduce greenhouse gas emissions, and improve air quality in urban areas. Moreover, access to reliable and widespread charging infrastructure is crucial for the success of the European Commission’s goal of having at least 30 million zero-emission vehicles on European roads by 2030.
Overall, Eldrive’s securing of EUR 40 million financing from the European Investment Bank marks a significant step towards the electrification of the automotive sector in Europe. By building over 10,500 charging stations, Eldrive aims to provide a robust and accessible charging network, encouraging more people to adopt electric vehicles and contribute to a sustainable and environmentally friendly future.
This is great news for the future of electric cars in Europe! The collaboration between the European Investment Bank and Eldrive to build over 10,500 charging stations will significantly boost the accessibility and convenience of electric vehicles, encouraging more people to make the switch.
This investment by the European Investment Bank is a significant step towards promoting the widespread adoption of electric cars. The provision of over 10,500 charging stations by Eldrive will help alleviate concerns about limited charging infrastructure, making electric vehicles a more viable and attractive option for drivers across Europe.