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    Reference: 20180672
    Release date: 5 September 2019

    Promoter – Financial Intermediary

    QEV TECHNOLOGIES SL

    Location

    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)

    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 data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    Related tags

    Spain Industry