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19/03/2009
BeneficiaryThe project concerns the financing of the promoter’s RDI activities related to the reduction of CO2 emissions of its cars. The Bank’s support would be focused on the development of those powertrains that are designed to meet the CO2 emission targets set by the EU Commission, notably the development of downsized diesel engines, the development of micro-hybrid and full hybrid downsized drivetrains. The promoter will carry out the work in its existing R&D centres in the UK.
The project will contribute to the increase of the promoter’s knowledge and know-how in the development of technology for small hybrid powertrains and new lightweight vehicle architecture. The project aims for a very significant reduction in fuel consumption of the promoter’s future range of vehicles; it is expected to bring about positive environmental results. The completion of this project will assist the promoter to comply with the upcoming European CO2 emission requirements.
Up to EUR 300 million.
Total costEstimated at around EUR 600 million.
Environmental aspectsThe project concerns investments in research and development that are expected to be carried out in existing facilities already authorised in which case an EIA therefore would not be required by EIA Directive 85/337/EC, amended by Directives 97/11/EC and 2003/35/EC. However, the Bank’s services will verify details and especially the ones related to the location of the R&D facilities during the project’s due diligence.
Procurement is expected to be in line with EIB guidelines for private sector projects. The Bank’s services will verify details during the project’s due diligence.
Signed - 24/02/2010.
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