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VOLVO CARS EMISSIONS REDUCTION R&D

Signature(s)

Amount
€ 200,000,000
Countries
Sector(s)
Sweden : € 200,000,000
Industry : € 200,000,000
Signature date(s)
22/12/2010 : € 200,000,000
Link to source
Data sheet
VOLVO CARS EMISSIONS REDUCTION R&D
Other links
Summary sheet
Volvo Cars Emissions Reduction R&D

Summary sheet

Release date
2 February 2009
Status
Reference
Signed | 22/12/2010
20080781
Project name
Promoter - financial intermediary
Volvo Cars Emissions Reduction R&D

Volvo Car Corporation

Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
Loan up to EUR 500 million.
Approximately EUR 2 000 million.
Location
Sector(s)
Description
Objectives

The project concerns the part-financing of Volvo Car Corporation’s forecast R&D expenditures in the 2009-2012 period.

The project concerns investments in research and development for future low emission engines and related platform development for cars.

Environmental aspects
Procurement

The project concerns investments in research and development that will be carried out in existing facilities already authorised. An EIA therefore is not required by EIA Directive 85/337/EC, amended by Directives 97/11/EC. Overall, the project is expected to have a neutral impact on the environment, while the products of the programme will significantly reduce CO2 emissions with a direct positive impact on the environment. The expenditures relating to the development and adaptation of the related manufacturing facilities, will also take place in existing facilities where appropriate environmental permissions have been granted.

Procurement is expected to be in line with EIB guidelines for private sector projects. The Bank’s services will verify details during the project’s due diligence.

Comments

Loan foreseen under the European Clean Transport Facility (ECTF)

Link to source
Summary sheet
Volvo Cars Emissions Reduction R&D
Other links
Data sheet
VOLVO CARS EMISSIONS REDUCTION R&D

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).

General enquiries and comments

The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
Alternatively, the EIB can be contacted through its external offices.
Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

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Media-related enquiries can be addressed to the EIB Press Office. Please also visit our Media information section.

Complaints mechanism

Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.

Zero tolerance against fraud and corruption

The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Investigations Division. All reports will be treated as strictly confidential and handled in line with EIB investigation procedures and the EIB Group Anti-Fraud Policy.

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