TTTECH AUTONOMOUS DRIVING RDI

Promoter – Financial Intermediary

TTTECH AUTO AG

Location

• Austria
• Spain

Description

The project addresses one of the main trends that are driving the development activities in the automotive sector, namely the development of automated and connected vehicles. The loan will finance selected research, development and innovation (RDI) activities for the production of advanced driver-assistance systems (ADAS), as well as software autonomous driving technologies.

Objectives

The project development activities concern: (i) software platform for the safe real-time execution of automated driving functions in autonomous driving systems; (ii) safety software that calculates a safe driving envelope; and iii) integrated computing platform for all vehicle domains and controls. The related investments will contribute to accelerate the deployment of automated vehicles in Europe, to consequently improve safety and sustainability of the automotive sector.

Sector(s)

• Industry - Manufacturing

Proposed EIB finance (Approximate amount)

EUR 30 million

Total cost (Approximate amount)

EUR 87 million

Environmental aspects

The project concerns RDI investments to be carried out at the promoter's technical centres in Austria and Spain, 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 RDI project are expected to contribute to the development of a more efficient and sustainable European transport system. Further details will be analysed during the due diligence.

Procurement

The promoter has been assessed by the EIB as being a private company not being subject to EU rules on public procurement or concessions (EU public procurement legislation Directive 2014/24/EU).

Status

Signed - 7/04/2020