- The project encompasses investments by Emotors to research and develop electric vehicle propulsion technologies and produce them at a plant in Trémery-Metz in Moselle.
- It follows an initial EIB loan for €145 million signed in 2020, used to launch the plant’s first production line of electric motors and produce 200 000 units.
- This directly aligns with the EIB’s strategy of promoting electric mobility in Europe, including the goal of achieving 100% electric vehicle production by 2035.
The European Investment Bank (EIB) has announced the agreement of a further loan to Emotors for €85 million at the official inauguration of the plant that will produce the company’s electric motors. The loan will support the investments Emotors must make to develop electric vehicle transmission technologies and put them into production.
The research and development activities will focus on creating four types of electric motor for use in battery-powered electric vehicles, as well as power converters for the electric motors. This research and development will be carried out at existing research facilities at Emotors headquarters in Carrières-sous-Poissy in Yvelines. Production at the Trémery-Metz plant, located in France’s Grand Est region, will be fully automated and based on industry 4.0 standards and principles.
Emotors already received its first EIB loan in 2020, for €145 million. This helped finance the company’s investments to develop and manufacture its first electric motors, which rolled off the production line in 2022. The new motors under this second project will enter production between 2024 and 2026.
These investments in electric mobility further the EIB’s strategic objectives for climate action and innovation, which are among its top priorities. They align with commitments made by the Bank under the EIB Group Climate Bank Roadmap adopted in 2020 to help meet the goals of the Paris Agreement.
The project will ramp up investment by European players in the development of technologies for electric powertrains, better positioning them to navigate the ongoing transformation in the automotive industry and the mobility industry at large. It is also a chance for them to strengthen their technological know-how and ability to compete in rapidly expanding technological and commercial domains.
This second loan to Emotors also serves the strategy of major automotive group Stellantis as it works to electrify its fleet. In addition, it will permit other European suppliers to benefit from Emotors’ range of electric motors, helping provide competitive electric mobility product offerings to consumers in Europe and elsewhere.
“The creation of innovative electric motor solutions is at the core of Emotors’ business, which is fully aligned with the energy transition and the decarbonisation of the automotive sector in Europe,” remarked Emotors CEO Ghislain Boiteau. “This new financing is a testament to the EIB’s confidence in Emotors’ strategic roadmap leading to the successful electrification of automobiles and of mobility in Europe. It will enable us to scale up investment to produce more electric motors at our Trémery-Metz plant, thereby strengthening Europe’s product offering and competitiveness in this strategic area for the future of its industry.”
“I am delighted with this new loan to Emotors. It demonstrates how innovation and the fight against climate change are linked,” said EIB Vice-President Ambroise Fayolle. “The financing will allow this young company, backed by major automotive sector players, to amplify its investment in creating electric motors that are more efficient and cost-competitive. The plan to launch production at this facility, and to accelerate it in the near future, shows just how many opportunities the switch from internal-combustion to electric motors is likely to generate in this key industrial sector, both for job creation and for reindustrialisation in regions with changing economies.”
Background information
About the European Investment Bank
As the EU climate bank, it aims to encourage the emergence and deployment of new technologies to meet ongoing challenges such as the energy transition to a new low-carbon growth model. In 2021, the EIB devoted more than two-thirds of its investment volumes to climate-related projects, and more than one-third (€3.6 billion) to innovation.
About Emotors
Founded in 2018, Emotors is an automotive company specialising in the design and manufacture of a range of electric motors for hybrid, plug-in hybrid and battery electric vehicles. Based in Carrières-sous-Poissy in Yvelines, Emotors is a 50/50 joint venture between the Stellantis automotive group and Nidec Leroy-Somer, a French subsidiary of the Japanese electric motor manufacturer Nidec. It produces electric powertrains at the Trémery facility located in Moselle in France’s Grand Est region, with an annual production capacity of 200 000 units per year — to be increased to more than 1 million in 2024. The company aims to meet demand for electric motors from Stellantis and other original equipment manufacturers by providing one-size-fits-all solutions for the European and export markets.
