As part of its goal to have zero-emission fleets in Spain by 2025 and in Latin America by 2030, Cabify has taken a key step towards achieving its sustainable goals and staying at the technological forefront of its operations.
The company received significant financing from the European Investment Bank (EIB) of EUR 40 million to electrify its cars.
The loan will cover almost half of the project (a total of 82 million euros), which will include the acquisition of 1,400 electric cars and the installation of the recharging points needed to supply these vehicles.
As for the terms of the loan, the Spanish company did not provide details, since “it is confidential”, although they assure that “it does not require a significant interest payment”.
According to Ricardo Mourinho, EIB VP, investment in sustainable transport translates into greener infrastructure for a future without fossil fuels, highlighting that the loan contributes to achieving Cabify’s decarbonization objective in Spain.
Read also: Canadian Company Meets with Authorities to Install Electric Vehicle Manufacturing Plant in Argentina
Infrastructure and other energy sources
Juan de Antonio, CEO of Cabify, celebrated the financing received by the company and emphasized the need to work in depth on zero-emission vehicles and have an energy supply network that covers demand.
“We have to make a strong investment in fast chargers, as there is not much infrastructure,” said the executive during the announcement.
He stressed that to fulfill its sustainable roadmap, Cabify seeks not only to have electric cars but also that the energy they use is green.
“At Cabify we are committed to accelerating the transition to a more sustainable and responsible mobility with the planet in all the markets in which we operate. This is our purpose, to make cities better places to live, and sustainable mobility is key to making this happen,” added de Antonio.
He pointed out that the decarbonization of the company’s fleet in Spain plays a key role in this commitment, and the EIB’s support demonstrates the strategic impact of this progress.
Cabify also emphasizes that in its quest for zero emissions, it does not rule out any technology, including hydrogen. In fact, they already have four Toyota Mirai on the road in Spain, which are refueled at an Enagás hydrogen plant in Madrid.
