Fiat Industrial receives €350mn EIB R&D loan

Fiat Industrial (FI) has been given a US$439.9million (€350mn) loan from the European Investment Bank (EIB) to support its research and development work for its industrial, commercial and agricultural vehicles. Powertrain technologies, new emission standard components, and innovative vehicle architecture with a focus on safety are among the areas of current FI R&D.
July 16, 2012 Read time: 2 mins
RSS2729 Fiat Industrial (FI) has been given a US$439.9million (€350mn) loan from the 1054 European Investment Bank (EIB) to support its research and development work for its industrial, commercial and agricultural vehicles.

Powertrain technologies, new emission standard components, and innovative vehicle architecture with a focus on safety are among the areas of current FI R&D.

The loan comes as the 2465 European Commission is in the process of promoting the design and application of less polluting and more efficient technologies in the engineering and transport sectors.

“At this stage in the global and European economic cycle, investment in innovation is essential to be able to look beyond the crisis and lay the foundations for recovery,” said EIB vice president Dario Scannapieco. “The projects financed by this loan reflect the commitment of Fiat Industrial and the European Union’s bank to supporting all programmes that combine research with environmental responsibility.”

Sergio Marchionne, FI chairman, said: “This project bears concrete witness to our commitment to seeking high-tech solutions that respect sustainable development.”  

FI has also announced plans to create a new holding company by merging with 1595 CNH, which it already has a controlling 88% stake in. CNH markets construction equipment through the 5895 New Holland and 176 Case brands.

For more information on companies in this article

Related Content

  • EIB supporting Finnish PPP highway project
    June 17, 2015
    The European Investment Bank (EIB) is providing financial support for a key Finnish highway project, which will be run on a PPP basis. The EIB is providing a €102 million long-term loan to finance the construction of a 32km highway stretch between Hamina and Vaalimaa in Finland. This section will be built on a public-private-partnership (PPP) basis. Using this model is expected to reduce the construction cost and also shorten the time needed to complete the work in comparison to a conventional procurement p
    Read More
  • Association of Equipment Manufacturers elects officers
    November 18, 2014
    Dennis Slater, full-time president of the US-based Association of Equipment Manufacturers, remains as secretary of the AEM after recent elections. AEM officers for 2015 are: • Chair John Patterson, Chairman JCB USA Group and Director JCB Group, JCB Inc. • Vice Chair Leif Magnusson, President, CLAAS of America • Treasurer Göran Lindgren, President Sales Region Americas, Volvo Construction Equipment • AG Chair James Walker, Vice President Case IH NAFTA, CNH Industrial • CE Chair Michael Haberman, Pre
    Read More
  • Jennifer Rumsey to succeed Tom Linebarger as Cummins president and CEO
    July 15, 2022
    Jennifer Rumsey is to succeed Tom Linebarger as Cummins president and CEO.
    Read More
  • Bosnia gets EBRD loan for Corridor 5c work
    January 8, 2024
    The project will include the construction of an interchange and a 15 km dual-carriage motorway section, along the Mostar North-South section.
    Read More

Highlighted Content