- The contract signed is the first €450 million tranche of the €500 million total approved by the EIB Board of Directors for the financing of Iveco Group.
- The EIB financing is aimed at developing cutting-edge technologies for the electrification, efficiency and safety of the transport sector.
- The investments will be made by Iveco Group by the end of 2025 mainly in Italy, but also in Germany, France, Spain, Czech Republic and Switzerland.
- This is the first financial operation between the EIB and Iveco Group.
Contributing to the electrification, efficiency and safety of the transport sector through investments in research, development and innovation are the key objectives of the financing granted by the EIB to Iveco Group (EXM: IVG), a global leader in the automotive sector, active in the commercial and special vehicles, powertrain and related financial services segments.
The €450 million loan signed in Turin is the first tranche of the €500 million total approved by the EIB’s Board of Directors. The loan, with a depreciation profile of eight years, will be drawn down in full in the immediate future. Thanks to the funding made available by the EIB, Iveco Group will develop innovative technologies and architectures in the field of electric propulsion. Iveco Group will also increase efficiency, safety, driving comfort and productivity via autonomous driving solutions, digitalisation and vehicle connectivity. The investments supported by the EIB will contribute not only to improving the performance and efficiency of electric and fuel cell vehicles, but also to reducing the production and operating costs of related products and services, enabling wider market penetration of these new technologies for the benefit of all users.
The investments will be made by Iveco Group by the end of 2025 mainly in Italy, but also in Germany, France, Spain, Czech Republic and Switzerland.
Director for EIB operations in Italy Gilles Badot said: “Investing in projects that facilitate the development of sustainable mobility is crucial to accelerate the decarbonisation of the transport sector, which is responsible for more than a quarter of Europe's CO2 emissions. This operation with Iveco Group not only demonstrates the EIB’s strong commitment to climate transition, but also helps promote innovation and job creation in Italy and Europe.”
Chief Technology & Digital Officer of Iveco Group Marco Liccardo said: “This significant EIB financing demonstrates confidence in both Iveco Group’s ability to promote sustainable mobility and our ongoing commitment to reducing the carbon footprint of the transport sector. It will enable us to accelerate the development and implementation of innovative technologies and solutions that are key to our strategic vision and the future of transport.”
Background information
European Investment Bank (EIB)
The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by its Member States. It provides long-term financing for sound investments that contribute to EU policy. The Bank finances projects in four priority areas: infrastructure, innovation, climate and environment, and small and medium-sized enterprises (SMEs). Between 2019 and 2022, the EIB Group provided €45 billion in financing for projects in Italy.
Iveco Group N.V. (EXM: IVG) is the home of unique people and brands that power your business and mission to advance a more sustainable society. The eight brands are each a major force in their specific business: IVECO, a pioneering commercial vehicles brand that designs, manufactures and markets heavy, medium, and light-duty trucks; FPT Industrial, a global leader in a vast array of advanced powertrain technologies in the agriculture, construction, marine, power generation, and commercial vehicles sectors; IVECO BUS and HEULIEZ, mass-transit and premium urban and intercity bus and tourism coach brands; IDV, for highly-specialised defence and civil protection equipment; ASTRA, a leader in large-scale heavy-duty quarry and construction vehicles; MAGIRUS, the highly reputed firefighting vehicle and equipment manufacturer; and IVECO CAPITAL, the financing arm which supports them all. Iveco Group employs more than 34 000 people around the world and has 20 manufacturing plants and 29 R&D centres. Further information about Iveco Group can be found on the company’s website: www.ivecogroup.com
