The European Investment Bank (EIB) has awarded a EUR 75m loan to KTM AG, a company that specialises in motorcycles. The funds will be available for research and development (R&D) projects concerned with road safety, fuel economy, lightweight construction and e-Mobility.
EIB Vice-President Wilhelm Molterer visited the production plant and research and development centre at the company's site in Mattighofen and highlighted the challenges facing R&D in this sector, stressing that "in the field of motorcycles motor sports must meet particularly high requirements insofar as rider and road safety are concerned. At the same time this sector must also meet legitimate expectations for sustainable mobility. KTM's research will therefore have positive effects far beyond the company itself on the further technological development of e-Mobility".
Stefan Pierer, KTM AG's CEO and Chairman of its Executive Board, commented: "The EIB finance will enable KTM to further consolidate its dominant position as a technological leader and to steadfastly continue with its global product strategy."
This financing operation is the EIB's first loan to KTM AG. Only recently the company introduced a new electric enduro model, mass production of which will commence in October.
The project KTM R&D is supported by ‘InnovFin Large Projects – EU Finance for Innovators’, with the financial backing of the European Union under Horizon 2020 Financial Instruments. ”InnovFin Large Projects aims to improve access to risk finance for R&I projects emanating from larger firms, universities and public research organisations, R&I infrastructures (including innovation-enabling infrastructures), public-private partnerships, and special-purpose vehicles or projects (including those promoting first-of-a-kind, commercial-scale industrial demonstration projects). Loans and guarantees from EUR 25m to EUR 300m will be delivered directly by the EIB.