EIB loan: Petit Forestier to procure 4,000 EVs
The European Investment Bank (EIB) has signed a €150 million financing agreement with the Petit Forestier Group to support the transition to zero-emission drivetrains in its fleet across Europe. Specifically, Petit Forestier plans to integrate around 4,000 battery-electric refrigerated vehicles using these funds, which will primarily be deployed on the roads in France, Italy, and Spain. “With these new vehicles built on European chassis frames, 5% of Petit Forestier Group’s fleet will be electric,” the company, based in Villepinte, France, emphasised. The total fleet currently comprises around 80,000 vehicles.
As a matter of policy, the EIB supports projects that align with the EU’s core priorities, including initiatives that advance the energy transition and CO₂-free mobility within the Union. “This maiden EIB loan to Petit Forestier Group is in line with our low-carbon transport strategy,” stated EIB Vice-President Ambroise Fayolle. “Refrigeration transport affects people’s lives in Europe on a daily basis as it is critical for both food and pharmaceuticals. Gradually increasing the number of electric vehicles on our roads will help reduce pollution, without cutting back services”
According to Léonard Forestier, CEO of the Petit Forestier Group, the loan is a prerequisite for converting the company’s fleet at the scale and pace desired: the 4,000 battery-electric vehicles are set to be procured from this year until 2029. “This financial partnership demonstrates our approach, which is based on continuity, stability and long-term sustainability,” said Forestier.
The Petit Forestier Group is a family-owned business founded nearly 120 years ago, currently employing 5,900 staff across 24 countries. It describes itself as a specialist in refrigeration technology, covering the entire value chain in this sector—from the rental of vehicles, systems, and containers to the development and production of refrigeration units, as well as the sale and recycling of spare parts.
In terms of e-mobility, Petit Forestier has so far primarily collaborated with Iveco. In December, the French company expanded its fleet by nearly 300 Iveco eDaily vehicles. This delivery stems from a memorandum of understanding signed in September 2022 between Petit Forestier and Iveco, which includes an order for 2,000 eDaily chassis—complete with refrigerated box bodies from Lecapitaine. To date, Petit Forestier has called off roughly 14 per cent of the volume outlined in the memorandum. While neither party has confirmed whether the EIB loan will be used to increase the volume under this framework agreement, it seems likely, particularly given the tight procurement timeframe until 2029.
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