Release date: 4 July 2018
Promoter – Financial Intermediary
PIAGGIO & C SPA
The project concerns the promoter's research and development (R&D) activities in the 2019-2021 period for the development of technologies and products in the areas of scooters, motorcycles and light commercial vehicles.
The focus of the R&D is mainly on the reinforcement of the product range, alignment with European and Indian regulatory emissions requirements that will be in place in 2020, new engines with improved performance and fuel consumption and the development of electric variants for the scooter range.
- Industry - Manufacturing
Proposed EIB finance (Approximate amount)
EUR 100 million
Total cost (Approximate amount)
EUR 151 million
The project concerns investments in research and development that 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 the Directive 2014/52/EU amending the EIA Directive 2011/92/EU. The results of this R&D project are expected to contribute to improving the sustainability of the transport sector, mainly in terms of reduction of traffic and also fuel consumption, and the part of the project that concerns electrification is expected to have an additional positive impact. Full environmental details will be assessed during the appraisal.
The promoter has been assessed by the EIB as being a private company not being subject to EU rules on public procurement or concessions. However, if after the project appraisal, the EIB were to conclude that the promoter is after all subject to EU public procurement legislation Directive 2014/24/EU or 2004/18/EC where applicable, then the Bank would require the promoter to ensure that contracts for the implementation of the project will be tendered in accordance with the relevant applicable EU procurement legislation Directive 2014/24/EU or 2004/18/EC where applicable, as well as Directive 92/13/EEC or Directive 89/665/EEC as interpreted by the Court of Justice of the EU, with the publication of tender notices in the Official Journal of the European Union, as and where required.
Signed - 4/07/2019
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).