EIB and MAN agree EUR 300m loan for environmentally friendly technologies
- Release date: 08 January 2010
- Reference: 2010-001-EN
The Luxembourg-based European Investment Bank (EIB) and MAN Group Munich have entered into a EUR 300m loan contract to promote research in the commercial vehicle sector. The funds are intended for the development and launching of reduced-emission and fuel-efficient powertrains for trucks and buses.
The loan forms part of a programme to provide financial support for research, development and innovation projects aimed at reducing emissions and improving energy efficiency in the European transport sector.
As part of its comprehensive programme to increase transport efficiency over the next four years, MAN will focus its research efforts on further reducing the fuel consumption and pollutant emissions of commercial vehicles. This will include the development and use of highly efficient Euro 5 and Euro 6 engines and launching of heat and energy recovery systems. Other projects will involve further development work on buses and trucks with hybrid powertrains, reducing their weight, energy management and optimised vehicle dynamics and control and the development of new types of simulation technologies. MAN’s total investment on these items is estimated at more than EUR 600m.