INNOVATIVE VEHICLE AND AUTONOMOUS DRIVING RDI

The project concerns the Promoter's investments in R&D activities in the fields of (i) Electronics and ADAS, (ii) Autonomous Mobility Systems technologies.

The project concerns selected development activities in the field of autonomous driving systems and assisted driving technologies, including the development of autonomous systems for electric shuttle applications, as well as components and systems targeting a wide range of applications and levels of automated driving (L1-L4/5). The project contributes to the improvement of active safety of vehicles, and consequently towards the improvement of the sustainability of the transport sector.

The project concerns the promoter's investments for the development of innovative sustainable technologies for vehicle automation of passenger cars, for advanced mobility solutions, including for public transport last-mile, and will create the conditions for their accelerated and wider market adoption. It will lead to safety and environmental externalities through the market deployment of the concerned technologies; it will contribute to further knowledge creation, accumulation and diffusion (through patenting and R&D collaborations with academia, research institutes, industrial partners and innovative technology startups) and workforce re-skilling to operate in the evolving technology and market context.

The project will help to safeguard the promoter's long-term future as a sustainable technology company, it will contribute to further develop enhanced technology and software competences, and will help the company to address the emerging mobility trends and the transformation of the automotive industry.

The promoter's R&D capability, its strong focus on innovation and sustainability, its technology edge and its experienced management help implement a sound and sustainable project.

EIB financing therefore supports the promoter's investments addressing the market failures and gaps associated with (i) imperfect competition and incomplete markets for very innovative and still market-entry stage vehicle automation and connectivity technologies, and those addressed by (ii) projects with positive knowledge, safety and environmental externalities generation.

The Bank's contribution to the project is underpinned by a combination of advantageous terms, a meaningful loan amount, flexible drawdown terms as well as catalysing effect on crowding-in other financiers, thereby facilitating the project's financing and full implementation.

The R&D project per say is not expected to have any significant environmental impact; however, ADAS and Autonomous Driving systems have an important green impact, through developments such as platooning transport solutions, efficient flowing traffic in highways, (future) speed limit consistent operation, traffic jam warning and route information, and improved city global traffic management. Such systems could contribute to fuel efficiency improvements of up to 10%, but as the impact depends strongly to the application and operation modes, the specific benefits of these project are difficult to quantify.

The Promoter has been assessed by the EIB as being a private 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. The Promoter has a structured sourcing strategy and appropriate procurement policies in place. Under these conditions, the procurement procedures followed by the Promoter are suitable for the project and satisfactory to the EIB.