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    Reference: 20210590
    Release date: 14 October 2021

    Promoter – Financial Intermediary

    EMOTORS

    Location

    Description

    The project concerns the Promoter's development of new electric drive technologies for vehicles as well as the set-up of their manufacturing.

    Objectives

    The project concerns the Promoter's expenditures for the development of electric drive technologies for vehicles, and also for the set-up of their manufacturing. The research and development (R&D) concerns the development of four electric motors to be used in Battery Electric Vehicles as well as inverters for the electric motors. The R&D activities will be carried out in existing technical centres in Carrières-sous-Poissy (Île-de-France). The manufacturing will be fully automated and based on Industry 4.0 principles, and will be carried out in an existing plant in Tremery in the region Grand-Est.

    Sector(s)

    Proposed EIB finance (Approximate amount)

    EUR 85 million

    Total cost (Approximate amount)

    EUR 178 million

    Environmental aspects

    The R&D activities will take place within existing facilities without changing their authorised scope and therefore do not fall under Annex I and II of Directive 2014/52/EU amending 2011/92/EU. The component related to the manufacturing of motors falls under Annex II of the said Directive. The outcomes of the project will enable the volume deployment of electrified vehicles, contributing thus to the decarbonisation of the automotive sector. All environmental details will be evaluated during the project's due diligence.

    Procurement

    The Promoter has been assessed by the EIB as being a private company not subject to EU rules on public procurement or concessions. However, if at the project appraisal, the EIB were to conclude that the Promoter is subject to the EU public procurement legislation then the Bank would require the Promoter to apply those rules.

    Status

    Under appraisal - 28/09/2021

    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

    France Industry