EVM e-Mobility (IFC-50440)

Countries
  • Brazil
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Borrower
Evm Evolution Mobility S.A.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Transport
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Fund
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 50.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 50.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Sep 27, 2026

Disclosed by Bank Aug 18, 2026

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the IFC, Evolution Mobility (EVM or the “Company”) is an electric mobility platform, a portfolio company of Patria’s PIF V (the “Sponsor”), the infrastructure fund in which IFC recently committed US$ 50 million as a LP (Project #49578). EVM provides fleet management services to organizations, optimizing fleet operations including planning advisory services, vehicle acquisition, charging ancillary infrastructure, maintenance, digital tools and renewable energy supply. The Company focuses on decarbonizing the last-mile delivery fleets (i.e. small trucks and vans) of business-to business (B2B) clients by helping them migrate away from internal combustion engine (ICE) vehicles to electric vehicles (EVs) via leasing contracts. EVM’s value proposition includes a data analytics tool which, among other things, analyses the usage of vehicles, monitors the status, conditions and EVs maintenance required, and tracks GHG emissions that are avoided. EVM’s clients can use this data to quantify the positive impact of EVs on their decarbonization targets and to address overall operational inefficiencies. IFC’s proposed financing is to be structured as a corporate finance loan for up to BRL 200 million (approximately US$ 40 million equivalent) with project (structured) finance type security and intercreditor arrangements without guarantee from the Sponsor, to support the purchase of approximately 500 medium-size trucks, minivans, and light commercial EVs as well as compatible charging infrastructure. The proposed investment will contribute to Brazil’s commitment to the Paris Agreement of cutting emissions CO2 emissions by 50%, below 2005 levels by the year 2030, particularly where commercial vehicles, with the greater number of daily kilometers travelled, present a good opportunity for carbon reduction.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

Contact Information
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No contacts available at the time of disclosure

 

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The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org

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