Highlights
- 50 million loan will finance the purchase of electric vehicles for fleet leasing
- Over 1,200 electric vehicles to be purchased
- Project will reduce the company's carbon emissions
The European Bank for Reconstruction and Development (EBRD) is providing a 50 million loan to Türkiye's TEB Arval, a full-service fleet leasing and mobility solution company, to finance a new fleet of electric vehicles.
The proceeds of this loan will be used to finance the acquisition of 1,200 electric vehicles - including both battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs) - to reduce the company's carbon footprint and increase its sustainability.
Türkiye is experiencing rapid urbanisation across the country, increasing the importance of sustainable transport when it comes to mitigating climate change. Historically, Türkiye's transport sector has had a severe impact on the environment in terms of both air quality and greenhouse gas emissions.
TEB Arval wants to be a pioneer in Türkiye's transition to low-carbon mobility, seeking to increase electric vehicles' share of its total fleet by 2027.
The EBRD's Deputy Head of Türkiye, Mehmet Erdem Yasar, said: "The EBRD is proud to be supporting TEB Arval in its journey towards a more sustainable future. By integrating electric vehicles into its fleet, the company is not only reducing its carbon footprint, but also setting a precedent for the industry. This investment underscores our commitment to accelerating the transition to greener mobility solutions, fostering innovation and promoting environmental responsibility across the sector."
TEB Arval's General Manager, Kağan Yaşa, said: "We at TEB Arval are committed to shaping the full-service leasing sector with our sustainable mobility solutions. Our comprehensive range of electric vehicle leasing options - which we complement with consultancy, charging solutions, back-up vehicles and driver training - not only reduces carbon emissions, but also strengthens our goal of offering more sustainable and innovative solutions to our customers. This collaboration with the EBRD marks a significant step towards promoting low-carbon transport across the country."
The EBRD is one of Türkiye's key investors, with over 22 billion committed through 476 projects and trade finance limits since 2009, most of it in the private sector.
