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    Reference: 20200278
    Release date: 10 September 2020

    Promoter – Financial Intermediary

    VALEO

    Location

    Description

    The project concerns the promoter's research, development and innovation activities in advanced technologies aiming to increase the levels of Decarbonisation and Safety in passenger vehicles. The project will be implemented in the period 2020-2024 at the promoter's research and development centres located in France, Germany, Czech Republic, Ireland, Belgium and Spain.

    Objectives

    The project will help to strengthen the company's technology competence and contribute to the ongoing transformation of the automotive industry driven by the following revolutions: - "greener" mobility based on powertrain electrification; - safer mobility based on advanced driver assistance systems (ADAS) and autonomous cars.

    Sector(s)

    Proposed EIB finance (Approximate amount)

    EUR 600 million

    Total cost (Approximate amount)

    EUR 1426 million

    Environmental aspects

    The project concerns investments for research and development activities to be carried out in existing facilities without changing their already authorised scope of activity, for which an EIA is not required by the Environmental Impact Assessment (EIA) Directive 2014/52/EU amending the Directive 2011/92/EU. The implementation of this project is expected to lead to the development and adoption of zero-emission, safer and connected vehicle technologies and to the deployment of a more sustainable transport system in Europe.

    Procurement

    The promoter has been assessed by EIB as being a private company not operating in the utilities sector and not having a status of a contracting entity, thus not being subject to EU rules on public procurement.

    Status

    Signed - 4/02/2021

    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

    Belgium Czech Republic France Germany Ireland Spain Industry