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Bulgarian company aims to find convenient and environmentally friendly transport solution with EU support

It is committed to developing e-mobility in South-Eastern Europe

  • July 10, 2018 16:00
  • Author Monika Dimitrova
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Source: European Commission

Bulgarian company Eldrive aims to find convenient and environmentally friendly transport solutions. With EU support, it is developing e-mobility in South-Eastern Europe by renting out electric cars and building a network of charging stations. Eldrive started with a small budget, but its innovative ideas soon helped to boost its finances. Its concept of a network of charging stations for electric vehicles and a fleet of electric rental cars attracted the NEVEQ venture capital fund.

As lead investor, NEVEQ has so far provided €650,000 of the €1 million put into the project. In turn, 70% of the funds necessary to create NEVEQ came from the EU’s JEREMIE initiative, which aims to improve access to finance for SMEs. Eldrive has built 34 charging points and rents out 30 electric cars. In the longer term, it aims to create 500 charging stations across South Eastern Europe and a fleet of 200 vehicles.

Source: European Commission



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