Signature(s)
Summary sheet
The project includes the Promoter's most innovative investments in advanced production technologies and research, development and innovation (RDI) activities, specifically focused on non-powertrain related components for electric and hybrid vehicles. The project covers the period 2021-2024.
The deployment of advanced manufacturing technology aims at increasing productivity and quality trough modernisation of the production system, deployment of flexible automation, adoption of smart factory principles and upskilling of local workforce. The RDI activities on steel automotive components, steel wheels and materials focus on innovative production methods and materials to reduce the components' weight, improving the performance of the final products, to develop new products and production concepts and simulation procedures.
The project includes investments in advanced production technologies and RDI activities on non-powertrain related components for electric and hybrid vehicles carried out in at different EU locations over the period 2021-2024. It will enable the development and delivery of innovative, lighter and more cost-efficient automotive components including improvement of the associated manufacturing along with increased safety for operators. It will also contribute to preserving employment in Europe. The project contributes to the EIB Innovation, Digital and Human Capital public policy goal and a part of it to the EU's Cohesion objective. The promoter's investments address the market failures and gaps associated with positive knowledge, environmental and safety externalities generation as the project will generate benefits that will not be appropriated by the promoter, but will extend to society as a whole, and they are possible as a result of the promoter's investment in the project. They specifically include knowledge externalities and spillovers (through collaborations with academia and industrial partners, workforce upskilling), environmental externalities (through vehicles' metal components light weighting, more efficient manufacturing processes and the resulting energy efficiency effects), increased safety for operators (through robotised and advanced manufacturing processes helping to improve working conditions and reducing workers' potential injuries).
The project helps strengthening the promoter's multi-technology knowledge and manufacturing capabilities and thus supports its competitive position. It will add to the social welfare and bring about social benefits, by generating environmental and knowledge positive externalities, contributing to further employment opportunities and workforce upskilling and training.
The proposed operation satisfactorily meets the funding needs of the promoter as it provides for the necessary flexibility in terms of long tenor and repayment profile, together with a sizeable financing volume. The EIB funding is expected to improve the promoter's financial profile by further diversifying its funding base. The Bank's technical contribution and advice is explained by the guidance provided to align the project scope with policy objectives at project origination and the monitoring requirements during project implementation given the associated risk level.
The project's activities are not listed in any of the annexes of the EIA Directive 2014/52/EU amending the Directive 2011/92/EU. The RDI activities and the deployment of technology will take place in existing facilities that will not change their scope due to the project and that will not require any new constructions. As such, the project is not covered by the EIA Directive. As the project represents a selection of those sub-projects of the promoter specifically targeting applications to hybrid and electric vehicles, it is expected to entail positive environmental externalities.
The Promoter is 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.