The European Bank for Reconstruction and Development (EBRD) is providing a 50 million euro loan to TEB Arval, a leasing company in Turkey. The funding will support the acquisition of 1,200 electric vehicles and plug-in hybrids, according to the EBRD.
TEB Arval aims to lead the transition to low-carbon mobility in Turkey. The company plans to substantially increase the proportion of electric vehicles in its fleet by 2027. This initiative is supported by the EBRD loan, as stated by Mehmet Erdem Yasar, Deputy Head of the EBRD for Turkey. “By integrating electric vehicles into its fleet, the company is not only reducing its carbon footprint, but also setting a precedent for the industry.”
TEB Arval was established in Turkey in 2007 as a 50:50 joint venture between TEB Holding A.S. and Arval Service Lease SA. The company specializes in fleet leasing and mobility solutions. Arval is a globally recognized leasing group, while TEB Holding is a joint venture between BNP Paribas Fortis Yatirimlar and the Colakoglu Group.
Kağan Yaşa, CEO of TEB Arval, commented on the initiative: “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.”
