The European Investment Bank (EIB) will lend up to €17.5 million to Greek electric vehicle charging company Joltie SA to build more public charging stations in Greece and Cyprus, according to a press release. The money, backed by the InvestEU programme, will pay for around 2,200 new charging points by 2029. The deal should make it easier for people to charge electric cars and help cut pollution from road transport. Both Greece and Cyprus will benefit from cleaner air as more drivers switch to electric vehicles. The funding fits with EU plans to fight climate change and boost economic growth in southeastern Europe.
Joltie SA started in 2022 near Athens and both makes charging equipment and runs its own charging network. The company has already installed about one third of all charging points in Greece: it now operates more than 500 chargers across Greece and Cyprus, making it a major player in the region’s electric car market. Running both the manufacturing and network sides of the business helps Joltie coordinate how it rolls out new stations. This setup also makes it easier to fix problems when chargers break down.
The EIB money will help the company reach areas that currently lack charging options, including Greek islands and smaller cities. EIB Vice-President Yannis Tsakiris said the bank wants to support green energy and cleaner transport across Europe. The partnership should make electric cars more practical and cheaper to run for people in both countries. The InvestEU backing may also encourage other private companies to invest in electric vehicle charging. The project tackles gaps in the market while getting more people to buy electric cars.
The investment hits several of the EIB’s main goals, including climate action, regional development, and building stronger capital markets. It falls under InvestEU’s “Future Mobility” plans within the Green Transition program. Joltie’s CEO said electric mobility is happening now, not in some distant future, and the EIB loan shows confidence in their business approach. The money will speed up building a reliable charging network using locally-made equipment. This creates cleaner transport choices that people can use every day.
InvestEU combines EU financial tools to back investment, innovation and job creation across key sectors. Working with partners like the EIB, InvestEU wants to unlock more than €372 billion in investment from 2021 to 2027. The EIB approved nearly €89 billion in new loans for over 900 projects last year. About 60 percent of EIB Group lending goes to projects that directly help fight climate change and protect the environment. Half of the EIB’s EU loans target poorer regions where people earn less than the EU average.
