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The project will finance research and development (R&D) activities for electric powertrains, electric vehicles, fast charging systems and electric racing technologies, as well as capital investments for R&D testing equipment and test facilities in Spain.
The proposed financing would enable QEV Technologies to scale up its activities and accelerate its investments into RDI, enabling the company's further geographical expansion and strengthening its capacity to undertake more customer projects.
All activities take place in existing locations. R&D activities are not listed in any annexes of the Directive 2014/52/EU amending the Environmental Impact Assessment (EIA) Directive 2011/92/EU. Also, the capital investments concern primarily equipment and tools that do not require any environmental assessment or authorisations. The R&D project is expected to have a positive sustainability potential as it contributes to the electrification of the automotive sector. All environmental details will be reviewed during the project's due diligence.
The promoter is a private sector company not operating in the utilities sector and not having a status of a contracting authority. Thus, it is not covered by the EU Public Procurement Directives.
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