Renault Electric Vehicle RDI

Promoter – Financial Intermediary

Renault

Location

• France

Description

The project concerns the investment in R&D and Innovation activities for: (i) the optimisation and further increase of efficiency in its current conventional technology powertrains; and (ii) the development of full electric vehicles.

Objectives

The project will contribute to extending the promoter’s knowledge and know-how in the field of conventional and full electric powertrains, and will support the accelerated introduction in the market of low-carbon-emission vehicles. It is expected to bring about positive environmental results in terms of reduction of fuel consumption and CO2 and other harmful emissions.

Comments

Loan foreseen under the European Clean Transport Facility (ECTF)

Sector(s)

• Industry

Proposed EIB finance (Approximate amount)

Up to EUR 400 million.

Total cost (Approximate amount)

Estimated at around EUR 1000 million.

Environmental aspects

The project concerns investments in research, development and innovation activities that will be carried out in existing facilities, already authorised. The project might include further investments in machinery, tooling and any additional civil works, which are still to be confirmed. In this regard, the Bank’s services will verify during the project’s due diligence whether the project falls under the EIA Directive 85/337/EC, amended by Directives 97/11/EC and 2003/35/EC, where an EIA would be required. Overall, the project is expected to have a neutral impact on the environment, while the commercial product of the activities will have a positive environmental impact, resulting in substantial reductions in terms of vehicle emissions and fuel consumption.

Procurement

Procurement is expected to be in line with EIB guidelines for private sector projects. The Bank’s services will verify details during the project’s due diligence.

Status

Signed - 24/03/2009