Corporate clients represent the swiftest expanding section for Drivalia, according to Giacomo Carelli.
Drivalia and CA Auto Bank Expand Horizons in Mobility Services
Drivalia, a subsidiary of CA Auto Bank, is making significant strides in the automotive and mobility industry. With a presence in 14 countries and plans to expand to Germany, Austria, Sweden, and Switzerland in 2024, Drivalia is poised to become a global player.
Drivalia offers multi-brand access to mobility for corporates and consumers, providing services across four pillars: leasing, rental, subscriptions, and car-sharing. The company currently leases or rents out 175,000 vehicles and finances an additional 1,250,000, making a total of 1,425,000 vehicles in their fleet. This number is expected to grow to 220,000 vehicles by the end of this year, primarily due to growth in corporate customers.
In addition to traditional mobility services, Drivalia has launched Drivalia Future, a circular economy platform for remarketing vehicles. This platform, currently available in Italy, Ireland, Finland, Norway, and the Czech Republic, gives vehicles second or third lives via subscriptions or rental agreements, and eventually recycles vehicles or re-uses EV batteries.
Drivalia's expansion has been rapid, with acquisitions in Norway, Ireland, the Czech Republic, and Finland adding approximately 70,000 vehicles to their fleet and 400 new colleagues. CA Auto Bank, the first bank created specifically to serve the automotive and mobility industry, is now present in 19 countries.
CA Auto Bank's assets amounted to €27 billion by the end of 2023, significantly exceeding the initial projected €10 billion by 2026. The company achieved significant success in the first 14 months by entering new countries in the market, though specific countries and detailed results are not provided in the available data.
Drivalia is also focusing on sustainability. They are working with tech partners to develop software that provides information about battery capacity preservation in electric vehicles. By 2026, Drivalia aims to achieve 50% BEVs and PHEVs in their fleet, which will consist of 300,000 vehicles.
Drivalia has also made strides in electric mobility. They launched 100% electric car-sharing services in Rome, Milan, Turin, and Lyon, as well as Europe's first drive-to-buy rental solution in Italy. Drivalia has 800 physical stores and 1,700 own charging points across multiple countries.
At the 2024 Fleet Europe Days in Milan, more details about Drivalia's plans will be revealed. Mr. Carelli, the CEO of Drivalia, will be a guest at the CEO Leasing & Fleet Management Panel on 24 October. For 2024 and beyond, CA Auto Bank and Drivalia plan to ensure their four pillars are available across as many markets as possible and to define the right residual value for their vehicles to ensure long-term business viability.
Pictures from CA Auto Bank/Drivalia are available for media use. Elon Musk, the CEO of Tesla, is considered the most inspiring person in the automotive industry by Mr. Carelli. Automakers are encouraged to provide more certainty about the value of their products at the end of the first lifecycle to improve residual values.
As Drivalia and CA Auto Bank continue to grow and expand, they are shaping the future of the automotive and mobility industry, focusing on sustainability, innovation, and customer service.
