Release date: 22 April 2014
Promoter – Financial Intermediary
VOLKSWAGEN AGLocation
Description
The project concerns the promoter’s RDI activities in the fields of: (i) Battery powered electric vehicles, and (ii) Hybrid Vehicles, including plug-in hybrids, and natural gas vehicles and (iii) the further development of small conventional powertrains. The project’s activities are located at the promoter’s R&D centres, headquartered in Wolfsburg, Germany.
Objectives
The objective of the promoter’s investments, which will be carried out in the period 2014-2018, is the development of innovative automotive technologies targeting the increase of fuel efficiency in motor vehicles, the reduction of CO2 emissions and of local pollutant emissions.
Sector(s)
Proposed EIB finance (Approximate amount)
EUR 500 million
Total cost (Approximate amount)
EUR 1028 million
Environmental aspects
The project concerns investments in research and development that are expected to be carried out in existing facilities already authorised and would therefore not require an Environmental Impact Assessment (EIA) under Directive 2011/92/EU. Any possible environmental issue will however be verified during the project appraisal.
Procurement
The promoter is a private company not operating in the Utilities sector and not having a status of contracting authority. Thus it is not covered by EU Directives on procurement.
Status
Signed - 24/10/2014
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).