Release date: 27 September 2011
Promoter – Financial Intermediary
The project concerns the promoter’s R&D investments for the development of (i) the second generation of electric vehicles (EV) batteries and (ii) electric motors as well as (iii) the integration of the above electric components in certain of the promoter’s EV architectures.
The project will contribute to increasing the promoter’s knowledge and know-how in the field of innovative battery and motor technology for electric vehicle powertrains. It is expected to bring about positive environmental results in terms of reduction of (i) fuel consumption and CO2 emissions – therefore supporting the promoter’s effort to comply and exceed the EU legislation on CO2 emissions, (ii) nitrogen oxides, hydrocarbons and other harmful emissions.
The Risk Sharing Finance Facility (RSFF) is an innovative credit risk sharing scheme jointly set up by the European Commission and the European Investment Bank to improve access to debt financing for private companies or public institutions promoting activities with a higher financial risk profile in the fields of research, technological development, demonstration and innovation investments.
Proposed EIB finance (Approximate amount)
Up to EUR 180 million
Total cost (Approximate amount)
The total project cost is estimated at EUR 378,1 million
The project concerns primarily investments in research and development that are expected to be carried out in existing facilities already authorised and would therefore not require an EIA under Annex II of the Directive 85/337/EC, amended by Directives 97/11/EC and 2003/35/EC. In addition it includes capital expenditures related to the R&D activities and the pre-industrialisation of the products. 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.
The promoter is a private sector company operating in the manufacturing sector not covered by EU Directives on procurement.
Signed - 9/01/2012
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).