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

  • IRF awards for road industry excellence
    February 15, 2012
    Eleven outstanding projects honoured for leading the way in road industry excellence. The winners of the 2010 Global Road Achievement Awards (GRAA) Competition were recognised at the 10th Annual 25 January, 2011. Eleven projects from six different countries around the world were each honoured for leading the way in excellence in a respective category of the road industry.
    Read More
  • Innovative diesel-electric bulldozer
    July 12, 2012
    With the launch of its innovative D7E diesel-electric bulldozer, Caterpillar has shaken up this traditionally conservative market Only rarely do product innovations come to market that can truly be described as groundbreaking, but Caterpillar's D7E fits that bill. To understand the giant leap that the D7E represents, it is important to recognise Caterpillar's long history in the bulldozer market, which is unmatched by any of its rivals. Caterpillar pioneered the crawler track with founder, Ben Holt, havin
    Read More
  • Milan wins prestigious ITF transport award for its urban road pricing scheme
    May 20, 2014
    The Italian city of Milan has won the 2014 Transport Achievement Award (TAA) for its ‘Area C’ urban road pricing scheme. The TAA is awarded annually by the International Transport Forum (ITF) at the OECD, an intergovernmental organisation for the transport sector with 54 member countries. The award will be presented tomorrow in the presence of ministers from around the world during the opening plenary of their global transport summit organised by the ITF. Milan, said by the ITF to be one of the most c
    Read More
  • CEA-backed report’s blueprint for UK construction equipment sector growth
    June 11, 2014
    Investment in advanced machine electronics capability; further investment in training and apprenticeship programs; and support for the UK as a continued centre for R&D are all key to securing growth within the British construction equipment industry, according to a comprehensive new Construction Equipment Association (CEA) commissioned report. Further recommendations for the industry in The UK Construction Equipment Sector Report are the need to ensure the cross fertilisation of advanced design, manufactu
    Read More

Highlighted Content