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

  • Albanian road investment
    May 15, 2012
    The European Bank for Reconstruction and Development (EBRD) is providing major funding in Albania’s road network. A loan worth €53 million will help pay for the construction of the new Fier and Vlore bypasses. This loan will aid further development of the Albanian road network and boosting economic integration in the country by co-financing the construction of the two bypass roads, located in south-western Albania. The EBRD loan is structured in two tranches and will be used by the Albanian Road Authority t
    Read More
  • Engine innovation for diesels and electrics
    October 2, 2018
    Engine firms continue to develop new power solutions and refine existing technologies - Mike Woof writes There has been strong pressure against internal combustion engines worldwide, with the scandal over the emissions from diesel powered private cars has strengthening opinion against these engines. Diesel engine firms are taking the long view by offering future power options such as alternative fuels and electric systems. The engine builders are also hard at work ensuring that power units for the indust
    Read More
  • Loan for Bosnia project
    June 25, 2012
    The European Bank for Reconstruction and Development (EBRD) has granted a €150million sovereign-guaranteed loan for the construction of part of the new Banja Luka–Doboj motorway in Bosnia and Herzegovina. The loan-targeted motorway section is the main east–est link in Republika Srpska, one of the country’s entities. The EBRD said that it will also support the preparation of the first public–private partnership (PPP) project for the main north–south link in Bosnia and Herzegovina, the Doboj to Vukosavlje seg
    Read More
  • Conference success in Lisbon
    February 14, 2012
    The International Road Federation's (IRF) conference in Portuguese capital Lisbon was a major success, attracting 1,500 industry professionals from all over the world
    Read More

Highlighted Content