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

  • European regulations for engine emissions are getting tougher
    January 4, 2013
    Emissions remain the focus for engine development but equipment manufacturers want clarity from regulators. Emissions remain a major challenge for the off-highway construction equipment market. The EU has tough targets in this respect and its objective is an overall reduction of CO2 emissions of 80-95% by the year 2050, compared to 1990 levels. There is considerable research already underway on how to reduce fuel consumption and to help ensure the security of energy supply. A number of industry sectors, suc
    Read More
  • Tough CO2 targets for Europe’s car manufacturers
    July 12, 2012
    Following the adoption yesterday of the European Commission's proposals to reduce CO2 emissions from cars and vans, the European Automobile Manufacturers' Association (ACEA) says it will now work with its members to conduct a full analysis of how the proposed targets should be reached as well as their feasibility, and what this means in practice for the industry as a whole. The auto industry shares concerns about global warming and is contributing actively to find sustainable solutions. In 2011, the average
    Read More
  • The Path to Climate-Neutral Road Construction
    October 1, 2023
    Machine manufacturers and construction companies around the globe are currently searching for ways to achieve the goal of climate-neutral construction. The challenge here is to successively reduce emissions of CO2 and other harmful gases (summarized to CO2 equivalents: CO2e) around the world to zero over the coming decades. In the road construction sector, this transformation is inextricably linked to the improvement and further development of production and working processes. In the future, machines and construction materials will also be assessed based on the climate-harmful emissions arising from their production and use. However, the focus should not be on individual machines, but on the entire process leading up to the finished product – a road. Ultimately, the decisive factor is the emissions generated per kilometer of newly built or rehabilitated road – the “CO2e per work done”.
    Read More
  • An electric avenue project in France
    February 7, 2024
    Electric road construction machines from the FAYAT Group have been used by VINCI as a trial.
    Read More

Highlighted Content