Release date: 10 June 2011
Promoter – Financial Intermediary
BMW AG
Location
Description
The project concerns the promoter’s investments for the research and development of a complete system of electric and electronic components for the hybridisation of passenger vehicles’ powertrains as well as for their integration in the promoter’s future fleet of vehicles.
Objectives
The project will contribute to increasing the promoter’s knowledge and know-how in the field of innovative hybrid powertrains. It is also expected to bring about positive environmental results in terms of reduction of fuel consumption and CO2 emissions, nitrogen oxides, hydrocarbons and other harmful emissions. Moreover, the project is expected to accelerate the accumulation and diffusion of knowledge within the European automotive industry, and therefore to contribute to increasing the European industry’s innovation capacity.
Sector(s)
Proposed EIB finance (Approximate amount)
EUR 325 million
Total cost (Approximate amount)
EUR 660 million
Environmental aspects
The project concerns investments in R&D that are expected to be carried out in existing facilities already authorised and would therefore not require an EIA under the Directive 85/337/EC, amended by Directives 97/11/EC and 2003/35/EC. The project might also include capital expenditures related to the R&D activities. Whether these investments concern test benches for engines, which fall under Annex II of the EIA Directive, along with any other environmental issues, will be clarified during the project’s appraisal.
Procurement
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.
Status
Signed - 25/07/2011
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).