TEB Arval Secures Financing from IFC for Electric Fleet Investments
The local currency resource provided will strengthen the company's eco-friendly vehicle fleet and charging infrastructure in line with its sustainable mobility vision.
TEB Arval, operating in the operational car rental and fleet management sector, has secured financing equivalent to 50 million US dollars in Turkish lira from the International Finance Corporation to expand its electric and hybrid vehicle fleet.
Details of the Financing Agreement
TEB Arval announced that it has secured financing equivalent to 50 million US dollars in Turkish lira from the International Finance Corporation (IFC), the private sector arm of the World Bank Group.
Eco-Friendly Vehicle and Infrastructure Investments
The company will use this financial resource to realize investments in battery electric vehicles, plug-in hybrid electric vehicles, standard hybrid vehicles, and their corresponding charging infrastructure.
Corporate Structure of the Company
Established in 2007 through a partnership between Türk Ekonomi Bankası and Arval, a subsidiary of the BNP Paribas Group, TEB Arval continues to provide services in operational car rental and fleet management.