Release date: 27 October 2016
Promoter – Financial Intermediary
Rheinmetall Automotive AGLocation
Description
The project concerns selected research and development (R&D) investments mostly related to technological innovations for combustion engines contributing to higher efficiency and reduced emissions of automotive vehicles.
Objectives
The project is expected to strengthen the technological and market position of the promoter in its core technology areas related to combustion engines, and also covers alternative drive technologies that are of growing importance for the automotive sector. Hence, it will be of critical importance for European automotive manufacturers in order to address emission regulation objectives.
Sector(s)
Proposed EIB finance (Approximate amount)
EUR 250 million
Total cost (Approximate amount)
EUR 528 million
Environmental aspects
The project concerns investments in R&D 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 as amended. The Bank's services will review during the project appraisal whether any of the investments concern construction of engine test benches that could fall under Annex II of the EIA Directive, as well as any other environmental details of the project.
Procurement
The promoter is a private company not operating in the Utilities sector and not having the status of contracting authority. Thus it is not covered by EU directives on procurement.
Status
Signed - 27/10/2016
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).