The National Bank and Autohellas signed a loan agreement for the implementation of an investment project with a total budget of 170 million euros, which is expected to be financed by 51 million euros through a loan from the National Bank. The investment will be financed by the Recovery and Sustainability Fund of 85 million euros and 34 million by the company’s own participation. The co-financed investment project concerns the renewal and expansion of the Autohellas fleet for the period 2022-2026 with a view to its energy modernization.

In particular, the plan provides for the gradual replacement of the company’s existing vehicle fleet with new, electric and hybrid vehicles with emissions standards up to 50 g CO2/km. The investment is wholly part of the pillar of the green transition, aims to develop a green economy and contribute to environmental protection by reducing pollutant emissions typical of new cars by more than 80%. compared to the cars that are going to be replaced.

The signing of the contract took place in the presence of Nikos Mantzoufas, Commander of the Special Coordination Service of the Recovery Fund, Eutihios Vassilakis, Managing Director of Autohellas, and Vassilis Karamouzis, CEO of Corporate and Investment Banking.

For an investment of 170 million to be financed by 85 million from the Recovery Fund and 34 million from equity.

Vassilios Karamouzis, Director General of Corporate and Investment Banking at the National Bank, noted that through the funded investments, “practical support for the NBG in supporting investments that contribute to sustainable development and contribute to efforts to move away from fossil fuels.”

Autohellas Managing Director Eutychios Vassilakis noted that since 2019, the company has placed at the heart of its strategic planning investments in developing and further strengthening its fleet of zero and low emission vehicles, thus achieving not only a reduction in environmental impact, but also attracting even more citizens across the country to new, more environmentally friendly technologies.

“In the last three years alone, about 1,600 vehicles have been purchased, at the same time, we have advanced in the process of developing an electric vehicle charging network at our facilities. Funding through the Recovery and Sustainability Fund will accelerate efforts to integrate green vehicles into our fleet and enable the country’s mostly small islands with the appropriate infrastructure to completely replace their existing fleet with electric and low emission vehicles. Vasilakis noted.