Release date: 5 September 2019
Promoter – Financial Intermediary
QEV TECHNOLOGIES SLLocation
Description
The project will finance research and development (R&D) activities for electric powertrains, electric vehicles, fast charging systems and electric racing technologies, as well as capital investments for R&D testing equipment and test facilities in Spain.
Objectives
The proposed financing would enable QEV Technologies to scale up its activities and accelerate its investments into RDI, enabling the company's further geographical expansion and strengthening its capacity to undertake more customer projects.
Sector(s)
- Industry - Manufacturing
Proposed EIB finance (Approximate amount)
EUR 17 million
Total cost (Approximate amount)
EUR 47 million
Environmental aspects
All activities take place in existing locations. R&D activities are not listed in any annexes of the Directive 2014/52/EU amending the Environmental Impact Assessment (EIA) Directive 2011/92/EU. Also, the capital investments concern primarily equipment and tools that do not require any environmental assessment or authorisations. The R&D project is expected to have a positive sustainability potential as it contributes to the electrification of the automotive sector. All environmental details will be reviewed during the project's due diligence.
Procurement
The promoter 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 - 15/10/2019
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).