Ayvens strikes new finance agreement for electric LCV rollout

The European Investment Bank (EIB) and Ayvens have signed a new financing agreement to rollout a fleet of 19,000 electric light commercial vehicles (eLCVs) in Europe over the next three years. 

The agreement, which breaks down into a €350 million (£295m) credit envelope granted by the EIB, on what is described as favourable financial conditions, and an equivalent €350m (£295m) co-investment made by Ayvens, will help companies to finance their electric transition. 

Low-emission zones (LEZs) have emerged as a key urban vehicle access regulation for improving air quality in European cities.

Consequently, the adoption of LEZs has become widespread across Europe in recent years and is expected to increase substantially by 2030 as cities work towards achieving EU air quality standards and climate neutrality goals.

However, transitioning to electric remains challenging for LCV drivers and customers, as there are barriers that need to be overcome, such as vehicle availability, affordability, charging infrastructure, and grid capacity. 

The constantly evolving regulatory framework is also impacting the growth of the eLCV market, says Ayvens.

Patrick Sommelet, group deputy chief executive officer and chief financial officer at 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, added: “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.” 

The financing agreement will be used to primarily fund vehicles in Germany, France, Italy, and the Netherlands.