Release date: 18 March 2010
Promoter – Financial Intermediary
BMW Motoren AG
Location
Description
R&D focusing on the development of a city car.
Objectives
The project concerns the research on, and development of a new city car with one electric and one ICE CO2 efficient variant, as well as the studies and engineering of a new, environmentally sustainable production and assembly chain for this car. The activities will be carried out in Germany.
Comments
Loan foreseen under the European Clean Transport Facility (ECTF).
Sector(s)
Proposed EIB finance (Approximate amount)
EUR 380 million.
Total cost (Approximate amount)
EUR 1 575 million.
Environmental aspects
The project concerns investments in research and development that are expected to be carried out in existing facilities, already authorised. An EIA is therefore not required by EIA Directive 85/337/EEC, amended by Directives 97/11/EC and 2003/35/EC. Overall, the project is expected to have a neutral impact on the environment, while the commercial product of the activities will have a positive environmental impact resulting in substantial reductions in terms of vehicle emissions and fuel consumption.
Procurement
The promoter is a private company operating in the manufacturing sector not covered by EU Directives on procurement.
Status
Signed - 25/06/2010
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).