| Project Detail |
The project support the promoters investments in research and development (R&D) related to power and comfort electronics, drive and comfort controls for automotive applications.
Additionality and Impact
The project concerns the development of products, processes and technologies spanning power and comfort electronics drive and comfort controls for the automotive sector. The project investments related to power electronics concern the development of electric vehicles technologies and cover developments of platforms, modules and technologies as well as products for specific applications. It will contribute to further knowledge creation, accumulation and diffusion and will support the development of a relevant ecosystem of technology companies and the necessary skills through reskilling and upskilling of existing employees. It contributes to EIBs "Innovation, Digital and Human Capital" policy objective and to EIB Climate Action and Environmental Sustainability policy objective. EIB financing supports the promoters investments addressing market failures and gaps associated with imperfect competition and incomplete markets for innovative and still market-entry-stage vehicle electrification technologies, and those addressed by projects with positive knowledge and environmental externalities generation.
The promoters R&D capability, its focus on R&D, innovation and sustainability, its technology edge, system integration capability, along with its experienced management will help implement a sound and sustainable project, integrating positive environmental and social dimensions, contribute to address and mitigate market failures, and through its additionality, contribute to the Banks policy objectives.
The Banks contribution to the project is underpinned by a combination of advantageous terms, a meaningful loan amount, flexible drawdown terms as well as catalysing effect on crowding-in other financiers, thereby facilitating the projects financing and full implementation and diversifying the company`s financing sources.
The Banks technical contribution and advice is mainly explained by the guidance provided to align the project scope with policy objectives at project origination.
Objectives
The R&D activities will support innovative technologies, partially for application in electric vehicles. In particular, the objective is to support the promoters "Energy and Empathy" strategy and further the platform strategy through standardised and configurable solutions that enable faster and easier application development and integration.
Comments
Borrower: KOSTAL AUTOMOBIL ELEKTRIK GMBH & CO KG
Sector(s)
Industry - Manufacturing
Proposed EIB finance (Approximate amount)
EUR 100 million
Total cost (Approximate amount)
EUR 254 million |
