The project will finance the company's investments in research, development and engineering activities in the area of autonomous driving solutions based on artificial intelligence technologies and products.
The project is expected to enable development, market acceptance and deployment of highly-automation and autonomous driving vehicles. Capital and operating expenditures (mainly ICT equipment, materials and tooling), including the permanent increase of indirect costs and working capital to support the growth of the company, will be incurred in Hungary.
The project activities are expected to be carried out in existing facilities without changing the already authorised scope and would therefore not require an environmental impact assessment (EIA) under Directive 2014/52/EU amending the EIA Directive 2011/92/EU. The Bank's Services will review during the project appraisal any other environmental details of the project.
The company 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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