Drivalia lands $52 million to electrify corporate fleets in Italy and Finland

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Drivalia secures $52 million from the EIB to put nearly 2,900 electric vehicles on the road in Italy and Finland, cutting CO2 emissions by 3,300 tons annually.

Drivalia, a Rome-based rental and mobility company under the Crédit Agricole Auto Bank (CAAB) group, just secured a $52 million (€48 million) financing deal with the European Investment Bank (EIB). The goal? To accelerate electric mobility in Italy and Finland. This isn't just a drop in the bucket. The money will help put nearly 2,900 new battery electric vehicles (BEVs) on the road, targeting companies and freelancers through long-term rental contracts. According to the EIB, swapping out gas guzzlers for these EVs will cut greenhouse gas emissions by roughly 3,300 tons of CO₂ each year. That's like taking about 700 cars off the road annually. ### Why this deal matters for businesses For companies looking to go green, this is a big deal. Corporate fleets are a major source of emissions, and switching to electric isn't always easy. High upfront costs and uncertainty about resale value often hold businesses back. Drivalia's approach tackles both head-on. Roberto Sportiello, CEO of Drivalia, put it this way: "We're proud of this agreement with the EIB. It's a key milestone on our journey toward democratic, zero-impact mobility. This financing lets us speed up fleet electrification in Italy and Finland." ### Drivalia's full mobility playbook Drivalia isn't just about long-term rentals. The company offers a whole suite of services: - Electric car sharing for short trips - Monthly car subscriptions through its CarCloud program - Flexible rentals of all durations - A new "Drive to Buy" product that lets you rent today and buy later With a fleet of about 216,000 vehicles across 16 European countries, Drivalia is a major player. They've also built a network of Mobility Stores—physical locations where customers can access all these services. The first fully electrified store opened at Turin Caselle airport in 2020, and now they have over 1,900 charging points installed across all their stores. ### CarCloud 2027: Skip summer payments Earlier this month, Drivalia launched CarCloud 2027, an updated version of its monthly car subscription. The twist? You can book now for a September start, skipping the summer months entirely while locking in today's rates. It's a smart move for professionals who don't need a car during vacation but want to secure a good deal. ### Drive to Buy: Rent now, buy later Last month, the company introduced Drive to Buy, a long-term rental product aimed at corporate clients and freelancers. Here's how it works: you pay a fixed monthly fee for 48 or 60 months. At the end, if Drivalia decides to sell the vehicle, you get first dibs at a pre-agreed price. It reduces uncertainty about the car's future value, which is a common pain point for businesses. ### The bigger picture This deal aligns with the EIB's role as the EU climate bank and CAAB's push for sustainable mobility. Gelsomina Vigliotti, Vice-President of the EIB, said: "Electric mobility is essential for Europe's energy transition. This project accelerates zero-emission vehicles in two very different markets, helping meet climate goals and offering businesses new sustainable options." For US readers, this is a glimpse into how Europe is funding the shift to EVs. While America relies more on tax credits and private investment, the EIB provides low-cost loans that make it easier for companies like Drivalia to scale up. It's a model worth watching, especially as corporate fleets in the US face similar challenges.

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