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

  • Prototype electric wheeled loader from Volvo CE
    September 13, 2018
    Volvo CE is continuing its development of sophisticated zero emission machines and is now unveiling a prototype wheeled loader with all-electric drive. The firm recently demonstrated its LX2 electric compact wheel loader at the Volvo Group Innovation Summit in Berlin. The prototype machine delivers zero emissions, significantly lower noise levels, improved efficiency and reduced operational costs. At the summit, Volvo CE also demonstrated its EX2 fully-electric compact excavator prototype and presented the
    Read More
  • IRF assisting in developing sustainable asphalt road technologies
    October 1, 2014
    The IRF is a member of the Advisory Group of the EDGAR project aiming at delivering greener asphalt roads This is an important project as reducing energy consumption is a major challenge and responsibility for the construction industry. This is not just because of the rising prices of fossil fuels, but also because of the ecological impact of the associated emissions of CO2 and other greenhouse gases (GHG).
    Read More
  • Future-proofing construction & quarrying equipment sustainability
    February 16, 2023
    Sustainability is a huge topic across the construction and quarrying industry – not just in terms of what can be achieved tomorrow via carbon-free hydrogen fuel cells and hydrogen internal combustion engines of machine fleets, but today, through the use of smart technology to make jobsites more efficient and sustainable by getting work done right first time, every time
    Read More
  • TRL acquires Transport & Travel Research
    April 15, 2014
    TRL has announced the acquisition of Transport & Travel Research (TTR) making it a wholly owned subsidiary of TRL. A minority shareholder in TTR since 2010, TRL has stated that TTR will continue to operate as an independent organisation. TTR’s chairman, David Blackledge, has stepped down from the Board to take on a role as Special Advisor, while TRL's chief executive, Rob Wallis, is appointed chairman of TTR (in addition to his other group company responsibilities) with immediate effect. All other operat
    Read More

Highlighted Content