Renault gets EIB loan for EV R&D

The European Investment Bank (EIB) has granted a US$237 million loan to the Renault Group to contribute to R&D for a new generation of batteries and motors for electric vehicles.
March 15, 2012 Read time: 2 mins
The 1054 European Investment Bank (EIB) has granted a US$237 million loan to the 2453 Renault Group to contribute to R&D for a new generation of batteries and motors for electric vehicles. This loan will be deployed in France and the main main objective is to make electric vehicles more competitive and ultimately speed up the development of a mass market. Lowering consumption of CO2 emissions and other harmful pollutants is also at the heart of this research programme, with a potential annual reduction of more than 150,000 tonnes of CO2 compared to vehicles fitted with conventional engines.

“We support leading-edge technologies since they shape the future in terms of sustainable development and competitiveness”, remarked EIB VP Philippe de Fontaine Vive. “This cooperation will enable us to prepare together the future of the motor industry in Europe, whose citizens will be the first to benefit in their day-to-day lives.”

This loan continues the quality partnership established between the EIB and the Renault Group. In 2009, the Group received a US$527 million loan from the EIB for its research, development and innovation (RDI) activities aimed at optimising and increasing the efficiency of conventional powertrains and developing wholly electric vehicles.

For more information on companies in this article

Related Content

  • Innovations in power systems for industry
    September 19, 2019
    Major innovations in power systems and drivelines are offering increased efficiency and reduced emissions for the future of construction machines - Mike Woof writes
    Read More
  • Make the case for electronic tolling, ASECAP conference delegates heard
    September 14, 2015
    Mobility pricing and electronic tolling is the future, delegates to a recent ASECAP Study Days conference, reports Geoff Hadwick at the Lisbon event. The international road tolling industry is failing to make its case and the sector is losing out to other social and political lobby groups. As a result, “tolling is still on the sidelines”, according to the head of the Washington-based International Bridge, Tunnel and Turnpike Association. IBTTA chief executive Pat Jones issued his stark warning at the
    Read More
  • 1st IRF Europe & Central Asia Regional Congress held on in Turkey
    November 18, 2015
    The International Road Federation (IRF) organised its first Regional Congress & Exhibition in Istanbul, Turkey on 15–18 September, 2015 The IRF is a non-governmental, not-for-profit membership organisation founded in Washington, DC in 1948 with the mission to encourage and promote development and maintenance of better, safer and more sustainable roads and road networks around the world.
    Read More
  • TRA 2014: key transport research conference
    March 31, 2014
    The TRA 2014 event in Paris from 14th-17th April is a key event in the transportation calendar. This research conference is providing a forum that will bring together European stakeholders from all areas of transport and transport-related activities. The scope of the conference encompasses all modes of surface transport: road, rail, waterborne, urban transport, planning and mobility, as well as co-modality. The latest achievements in European research and the technological developments needed for coming dec
    Read More

Highlighted Content