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

  • New driveline developments boost machine efficiency
    April 24, 2013
    Advances in transmission technology will help to optimise machine performance – writes Mike Woof. As construction machines have become more sophisticated, so have the transmission systems used in items of equipment. Advances in electronics and software in particular have allowed the development of integrated transmissions. These operate more efficiently and help optimise power delivery from an engine, boosting torque response and cutting fuel consumption and emissions at the same time. The smart electronics
    Read More
  • The acronym syndrome
    July 31, 2012
    Those who navigate the labyrinth that is the European Union and the numerous trade and research groups will be struck by the number of acronyms. In a short series, EUROFILE gives a snapshot of those engaged in the roads industry. In this issue we look at FEHRL (Forum of European National Highway Research Laboratories) based in Brussels, Belgium Established in 1989, FEHRL is made up directors of national research institutes: 30 in all from within the European Union, European Free Trade Association (EFTA) an
    Read More
  • Decarbonising transport with digital twins
    August 13, 2024
    A research programme will focus on decarbonising transport with digital twins.
    Read More
  • LiuGong develops new operating strategy to meet challenges
    August 20, 2015
    Chinese manufacturer LiuGong has adjusted its strategy to meet the changes in the construction machinery industry Slow recovery from the global economic recession has impacted on the construction machinery industry. Intense regional, political and economic situations, low demand for resources, a decrease in emerging economies and conservative investment have led to a sharp decrease in demand for heavy machinery. LiuGong is tackling this using its refined initiative programme, however, and the firm sa
    Read More

Highlighted Content