Cabify to invest EUR 82 million in decarbonising its fleet, backed by the EIB

EIB grants EUR 40m loan to Cabify to decarbonise its fleet

Cabify is very much focused on decarbonising its fleet, with a renewal strategy geared towards new, cleaner technologies, including all-electric and hydrogen vehicle options. To implement this plan, Cabify will mobilise a substantial EUR 82 million, of which EUR 40 million will come from an EIB loan.

This investment is expected to support the deployment of 1,400 electric vehicles, as well as the associated charging infrastructure for them. This fleet renewal will help to achieve the targets set by the European Union for phasing out combustion cars. With this deployment, the Spanish mobility company plans to save 9,000 tonnes of CO2 per year.

As we say, this deployment and its corresponding investment, are part of the company’s strategy, which aims for all its trips in Spanish territory to be on board zero-emission vehicles by 2025, increasing the same objective worldwide by 2030. Cabify CEO Juan de Antonio said:

“We are committed to accelerating the transition to more sustainable and planet-responsible mobility 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. The decarbonisation of our fleet in Spain plays a key role in this commitment, and the support of the European Investment Bank demonstrates the strategic impact of this progress”.

Cabify estrena sus Toyota Mirai, coche de hidrógeno

Their ambitious goal, will require a lot of investment and the creation of the right infrastructure. Currently , Cabify already has all-electric vehicles in its fleet, such as Tesla Model S models or soon the Mobilize Limo (from Renault), as well as hydrogen fuel cell cars, currently counting in its fleet with four units of the Toyota Mirai model.

Other competing companies, such as Uber, are also carrying out plans to decarbonise their fleet and, for example, in the case of this company, it is also committed to autonomous vehicles with the development of a car of this type by Geely’s Zeekr.

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