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    Reference: 20170800
    Release date: 31 July 2019

    Promoter – Financial Intermediary

    ALMOTIVE KFT

    Location

    Description

    The project will finance the company's investments in research, development and engineering activities in the area of autonomous driving solutions based on artificial intelligence technologies and products.

    Objectives

    The project is expected to enable development, market acceptance and deployment of highly-automation and autonomous driving vehicles. Capital and operating expenditures (mainly ICT equipment, materials and tooling), including the permanent increase of indirect costs and working capital to support the growth of the company, will be incurred in Hungary.

    Sector(s)

    Proposed EIB finance (Approximate amount)

    EUR 20 million

    Total cost (Approximate amount)

    EUR 40 million

    Environmental aspects

    The project activities are expected to be carried out in existing facilities without changing the already authorised scope and would therefore not require an environmental impact assessment (EIA) under Directive 2014/52/EU amending the EIA Directive 2011/92/EU. The Bank's Services will review during the project appraisal any other environmental details of the project.

    Procurement

    The company is a private sector company not operating in the utilities sector and not having a status of a contracting authority. Thus, it is not covered by the EU Public Procurement Directives.

    Status

    Signed - 14/12/2018

    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).

    Related tags

    Hungary Services