Release date: 12 January 2018
Promoter – Financial Intermediary
VOLVO CAR CORP
R&D aimed at the development of fuel efficient powertrains, active safety systems and telematics, and related vehicle technologies.
The project will contribute to increasing the promoter's know-how and, among others, is expected to lead to fuel efficiency and the reduction of CO2 emissions and other local pollutants from motor vehicles.
- Industry - Manufacturing
Proposed EIB finance (Approximate amount)
EUR 345 million
Total cost (Approximate amount)
EUR 497 million
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 Environmental Impact Assessment (EIA) under the Directive 2011/92/EU. The Bank's services will review during the project appraisal whether any of the investments could fall under Annex II of the EIA Directive, as well as any other environmental details of the project.
The promoter is a private company not operating in the Utilities sector and not having a status of contracting authority. Thus it is not covered by EU directives on procurement.
Signed - 8/11/2017
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).