Release date: 6 October 2008
Promoter – Financial Intermediary
Piaggio & C SpA
Location
Description
The project concerns investments in R&D related to environmentally friendly and safer, light vehicles. It consists of four parts: (i) innovative light mobility vehicles, (ii) new hybrid-, diesel- and gasoline-engines, (iii) improved technology solutions in the field of suspensions, brake-by-wire and for the reduction of emissions, and (iv) new range of scooters, motorcycles and light commercial vehicles.
Objectives
The promoter’s R&D program is expected to strengthen the promoter’s capability to provide innovative technological solutions to (i) enhance the urban mobility and (ii) increase vehicles’ environmental, consumption and safety performances.
Sector(s)
Proposed EIB finance (Approximate amount)
Up to EUR 150 million.
Total cost (Approximate amount)
Approximately EUR 300 million.
Environmental aspects
The project concerns investments in research and development that will be carried out in existing facilities already authorised. An EIA therefore is not required by EIA Directive 85/337/EC, amended by Directives 97/11/EC. Overall the project is expected to have a neutral impact on the environment. The Bank’s services will however verify details during the project’s due diligence.
Procurement
Procurement is expected to be in line with EIB guidelines for private sector projects. The Bank’s services will verify details during the project’s due diligence.
Status
Signed - 19/12/2008