Iberdrola España and Vecttor sign an agreement to promote the decarbonization of urban mobility

Iberdrola España has signed a long-term collaboration agreement with Vecttor, a leading ride-hailing company and subsidiary of the Cabify group, for the sale and purchase of its Energy Saving Certificates (ESC).

This mechanism allows Vecttor to monetize the energy savings generated by the replacement of combustion vehicles with 100% electric vehicles. The agreement enables progress in electrification and independence from fossil fuels. 

This is in addition to other joint initiatives developed in the past between Iberdrola España and Grupo Cabify and consolidates their shared commitment to the decarbonization of the electric mobility sector. Along these lines, Iberdrola España and Cabify have an agreement to incentivize the electrification of the platform's self-employed VTC and cab collaborators to facilitate their access to the energy company's public charging infrastructure. 

“For Iberdrola España, promoting electric mobility together with the Cabify group is a decisive step in its strategy to promote more sustainable cities and to recover good air quality for its inhabitants. Alliances like this one allow us to move towards an electrification of the economy, which implies an improvement in the productive fabric of Spain", says Luis Buil, director of Smart Solutions at Iberdrola España. 

For Vecttor, this agreement represents a key step in its commitment to the electrification of its fleet nationwide, facilitating the reinvestment of these profits in new 100% electric vehicles. 

“This alliance with Iberdrola España represents a further step in our commitment to decarbonized and environmentally friendly mobility. Initiatives like this are fundamental to establish strategic agreements that transform the sector's landscape, turning sustainability from an aspirational goal into a tangible reality within everyone's reach,” says Jacobo Domínguez - Blanco, CEO of Vecttor.