The European Bank for Reconstruction and Development (EBRD) is providing a €50 million loan to Türkiye’s TEB Arval to support the expansion of its electric vehicle (EV) fleet.
The funding will finance the acquisition of 1,200 EVs, including battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs), as part of the company’s strategy to reduce its carbon footprint.
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Türkiye’s rapid urbanisation has heightened the need for sustainable transport solutions to mitigate the environmental impact of the country’s transport sector, which has historically contributed significantly to air pollution and greenhouse gas emissions.
TEB Arval aims to increase the share of EVs in its total fleet by 2027, positioning itself as a leader in Türkiye’s transition to low-carbon mobility.
“The EBRD is proud to support TEB Arval in integrating electric vehicles into its fleet,” said Mehmet Erdem Yasar, Deputy Head of Türkiye at the EBRD. “This investment underscores our commitment to accelerating the transition to greener mobility solutions and promoting environmental responsibility across the sector.”
Kağan Yaşa, General Manager of TEB Arval, highlighted the company’s goal of shaping the full-service leasing sector with sustainable mobility solutions. “Our comprehensive range of electric vehicle leasing options, combined with consultancy, charging solutions and driver training, strengthens our commitment to providing innovative and low-carbon transport solutions,” he said.
The EBRD is a key investor in Türkiye, with over €22 billion committed across 476 projects and trade finance limits since 2009, primarily in the private sector.
