| Project Detail |
The project will finance the promoters investments in research and development (R&D) for innovative active safety technologies in automotive braking and steering, improving functional and safety performance of future vehicle applications such as autonomous driving.
Additionality and Impact
The project concerns the promoters investments in R&D for innovative active safety technologies in automotive braking and steering systems, developing cost-, resource- and energy-efficient solutions to the relevant trends, needs and transformational challenges affecting the promoters customer industries. It will further knowledge creation and diffusion through the promoters extensive R&D collaborations with customers, industrial and supply chain partners, research institutes, innovative startups, and through its patenting activities. It will also contribute to a continued reskilling and upskilling of promoters resources, in addition to integrating additional skills to meet the needs emerging from the industry transformation. The financing of this RDI project is therefore set to generate significant positive knowledge, environmental and adoption externalities. The project will support the transformation of the automotive and mobility sectors in the direction of increased decarbonisation, electrification, enhanced resource-, energy- and cost-efficiency, and increased safety. It will also, directly and indirectly, help preserve and scale up R&D as well as manufacturing employment in Europe and therefore contribute to economic growth. Such investments contribute to the Banks "Innovation, Digital and Human Capital" public policy objective. EIB financing supports the promoters investments addressing market failures and gaps associated with (i) imperfect competition and incomplete markets for very innovative vehicle active safety technologies, and those addressed by (ii) projects with positive knowledge and environmental externalities generation.
?The promoters experienced management and project implementation capabilities, its focus on innovation, sustainability and orientation to identify efficient customer solutions, its technology edge and industrialisation capability will help implement a sound and sustainable project, integrating positive environmental and social dimensions, contribute to addressing and mitigating 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 a positive signalling effect on other financiers, thereby facilitating the projects financing and full implementation. The Banks technical contribution and advice is primarily explained by the guidance provided to align the Project scope with policy objectives at Project origination.
Objectives
The aim is to further develop innovative component and system technologies for vehicle active safety and automated driving applications. The project will also contribute to improve vehicle performance and safety, enhance their overall energy efficiency, reduce emissions and manufacturing cost, and therefore lower the barriers to the adoption of such technologies in the market.
Sector(s)
Services - Wholesale and retail trade; repair of motor vehicles and motorcycles
Proposed EIB finance (Approximate amount)
EUR 425 million
Total cost (Approximate amount)
EUR 1324 million |
