Cabify and Iberdrola Build Electric Car Future

Iberdrola signs a deal with Cabify with discounted recharging of Cabify’s electric cars in a bid to promote the electrification of transport services in Spain.

Iberdrola and Cabify have reached a strategic agreement to promote renewable energy in the self-employed VTC and taxi driver sector, making it easier for drivers to access Iberdrola’s public charging infrastructure.

The four-year agreement will offer discounts at more than 2,200 charging points throughout the country with a guarantee that electricity is 100% renewable. In addition, drivers will have special prices for private recharging equipment for home installation.

This agreement is part of Iberdrola’s Sustainable Mobility Plan, which was launched in 2016. The alliance with Cabify is among more than 60 agreements that the company has signed with public and private organizations to promote and lead the transition towards sustainable transportation.

A Sustainable Future?

Cabify’s Sustainable Business Strategy, which seeks to promote the reduction of carbon emissions of collaborating fleets, has negotiated agreements with manufacturers and other companies to increase the number of electric cars in their fleet.

The company has established an objective that 100% of trips in Spain will be in zero-emission vehicles by 2025. This ambitious objective is backed by the European Investment Bank (EIB), which loaned the company €40 million to execute this strategy in 2022.

Cabify’s project involves a total investment of €82 million, which will go towards achieving the objective of fully electrifying its entire fleet. 1,400 electric cars were purchased by the company as a step towards a more sustainable future for the company.

Cabify Follows Uber’s Footsteps

Cabify seeks to follow Uber’s lead, their rival company, which launched its Uber Green program in 2021 which aims to electrify its entire global fleet by 2030 with an endowment of $800 million. Uber currently have 25,000 electric vehicles in their fleet worldwide.

Meanwhile, Iberdrola, the electricity company, has been expanding its reach with more charging stations throughout the country, announcing its bid to install another 60,000 charging points for electric vehicles across Spain in May 2023. Electric cars are a growing trend in Spain, with 57.216 cars registered in the first half of this year.