Ayvens will roll out a fleet of 19,000 electric vans in Europe with the help of new financing.

The financing will enable Ayvens to further develop its fleet of electric LCVs across the EU

The agreement marks the first green loan granted by the European Investment Bank (EIB) to finance electric light commercial vehicles in Europe.

The financing breaks down into a €350m (£295m) credit envelope granted by the EIB on favourable financial conditions and an equivalent co-investment made by Ayvens.

The agreement is part of an EIB-backed climate action project and follows on from a major financial partnership initiated in 2018 and a second successful operation launched in 2023.

The financing will enable Ayvens to further develop its fleet of electric LCVs across the European Union, primarily in Germany, France, Italy and the Netherlands, over the next three years.

The fleet management and leasing giant said the development of low-emission zones (LEZs) in European cities is pushing LCV fleets to go electric – but added that the EV transition remains challenging due to barriers such as vehicle availability, affordability, charging infrastructure and grid capacity. The constantly evolving regulatory framework is also impacting the growth of the eLCV market.

Patrick Sommelet, group deputy chief executive officer and chief financial officer of Ayvens, said: “This new co-investment contributes to the funding diversification of our activities and to our sustainability strategy. But most of all, it marks an important step forward in providing our clients accessibility to a wider range of eLCVs, at attractive prices.

“Ayvens plays an important role in supporting clients as they face market complexity on their electrification journey. LCVs are essential work tools, and they must remain fit for purpose regardless of the powertrain. With industry-leading consultancy tools and expert fleet advice, our objective is to facilitate a seamless transition to electrification while safeguarding business continuity.”

EIB vice president Ambroise Fayolle remarked: “This new finance agreement with Ayvens demonstrates the EIB’s leading role in finding innovative financial solutions for decarbonising Europe’s vehicle fleet and the transition to a low-carbon economy.

“We are proud to help develop the supply of electric vehicles to SMEs, which are among Ayvens’ most important customers.”