Release date: 12 June 2009
Promoter – Financial Intermediary
Valeo
Location
Description
The project concerns the promoter’s RDI investments aimed at reducing the fuel consumption and CO2 emissions of cars and at improving the active safety characteristics. The project includes the activities related to the (i) powertrain efficiency including among others efficiency developments of Internal Combustion Engine (ICE) systems, mild & micro hybrid solutions, development of systems for electric and hybrid vehicles and efficient transmission systems and (ii) driving assistance for safer cars including assisted viewing systems, crash avoidance systems and advanced lighting systems. The project may further include the promoter’s participation in the development of an electric vehicle, but the exact scope and content will be verified during the appraisal of the project.
Objectives
The project will contribute to the increase in the promoter’s knowledge and know-how in the fields of powertrains and active safety systems and is expected to bring about positive environmental results in terms of reduction in fuel consumption and in parallel some of the projects will also improve vehicle safety conditions. The completion of this project will assist the promoter’s customers, the automotive OEMs, to comply with the upcoming European CO2 emission requirements. In addition, it will support the promoter’s effort to develop technological solutions for safety systems.
Comments
The project is eligible under the Risk Sharing Finance Facility (RSFF). The Risk Sharing Finance Facility (RSFF) is an innovative credit risk sharing scheme jointly set up by the European Commission and the European Investment Bank to improve access to debt financing for private companies or public institutions promoting activities with a higher financial risk profile in the fields of research, technological development, demonstration and innovation investments.
Sector(s)
Proposed EIB finance (Approximate amount)
EUR 300 million.
Total cost (Approximate amount)
EUR 645 million.
Environmental aspects
The project concerns investments in research and development that are expected to be carried out in existing facilities already authorised, in which case an EIA 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
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.
Status
Signed - 30/07/2009
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).