By euronews
Published on
The European Investment Bank (EIB) is investing €17.5 million to support Joltie, a Greek electric vehicle (EV) charging company, in expanding its public charging network across Greece and Cyprus.
This funding, backed by the InvestEU programme, aims to install approximately 2,200 new charging points by 2029, enhancing EV infrastructure in the region.
By expanding access to reliable charging infrastructure, the project aims to decarbonise road transport, reduce greenhouse gas emissions and facilitate the transition to sustainable mobility in the cohesion regions.
Supporting Europe’s green transition
The project fits perfectly with InvestEU’s ‘Future Mobility’ goals as part of Europe’s Green Transition, while also supporting the Climate Bank’s roadmap and the EIB’s transport policies.
It is hoped that the funding will help close gaps in the market, speed up the switch to electric vehicles, and spark innovation in sustainable transport.
It also backs the EIB’s priorities on climate action, promoting regional cohesion, and making it easier for businesses across Europe to access funding through well-functioning and integrated financial markets. It also aligns with TechEU, a programme which helps fast-growing companies like Joltie succeed.
“The EIB is committed to supporting the green transition and sustainable mobility in Europe,” said EIB Vice-President Yannis Tsakiris.
“Our partnership with Joltie will boost EV charging infrastructure in Greece and Cyprus, helping to make electric mobility more accessible and affordable. Backed by InvestEU, this financing will catalyse private investment and strengthen local capacity to deliver on our climate action objectives.”
Electrification is already here
Joltie, founded in 2022 and headquartered in Attica, has already installed around one-third of Greece’s EV chargers and operates over 500 units across Greece and Cyprus.
With this new financing, the company plans to extend its network to underserved locations, including remote islands and regional cities, further strengthening its footprint in Southeast Europe’s rapidly growing EV market.
“Electromobility is not the future; it is already here. The EIB’s investment is an institutional recognition of our fully integrated model and accelerates the development of a high-availability charging network,” Joltie’s CEO George Pechlivanoglou said.
“Our goal: more choice and true convenience for drivers in Greece and Cyprus, with technology designed and manufactured here, contributing to a cleaner everyday life.”