Summary sheet
The operation is financing the promoter's research, development and innovation (RDI) activities in zero emissions and autonomous driving technologies, as well as supporting digitalisation, optimization and new product development across the promoter's wide product portfolio. The investment programme will take place in Spain and Poland in 2025-2028.
The project will contribute to the objective of promoting sustainable and innovative transport technologies.
The Project concerns the Promoter's RDI investments for the development of innovative rail and bus solutions and the enhancement of the Promoter's internal R&D capability. The RDI activities focus on delivering solutions for improving energy efficiency, competitiveness and advancing autonomous mobility concepts. It will further knowledge creation and diffusion through the Promoter's collaborations with customers, industrial and supply chain partners. It will also contribute to a continued reskilling and upskilling of Promoter's resources, in addition to integrating additional skills to meet the needs emerging from the industry transformation.
The financing of this RDI project is therefore set to generate positive knowledge and environmental externalities. Such investments contribute to the Bank's "Innovation, Digital and Human Capital" public policy objective, a part of them also to the EIB Climate Action and Environmental Sustainability policy objective. EIB financing supports the Promoter's investments addressing market failures and gaps associated with imperfect competition and incomplete markets for innovative manufacturing technologies, and those addressed by projects with positive knowledge and environmental externalities generation.
This Project will help the Promoter to implement its strategic objectives and strengthen its know-how, competence and position in the key technology fields. As such, it will help the Promoter to address the evolving market and technology context, the relevant customer needs and to achieve its medium and long-term sales and profitability targets. The Project will add to the social welfare and bring about social benefits, by generating environmental and knowledge positive externalities.
The Bank will support the Company by providing long-term financing with customised and flexible financial terms and conditions, which matches the economic life of the Project and increases the Promoter's average debt maturity. The Bank's financing will have a positive signalling effect to other financiers, demonstrating the Project's soundness and quality.
The project concerns activities that are not specifically listed in Annex I or II of the EU Directive 2014/52/EU amending the Environmental Impact Assessment (EIA) Directive 2011/92/EU. The environmental details of the project will be reviewed by the Bank's services during the project appraisal.
The promoter has been assessed by the EIB as being a private company not subject to EU rules on public procurement. However, if at the project appraisal, the EIB were to conclude otherwise, then the Bank would require the promoter to apply those rules.