Release date: 18 March 2010
Promoter – Financial Intermediary
Nissan Motor Manufacturing (UK) Ltd
Location
Description
The project comprises the investments in (i) Nissan's first European plant for the production of batteries for electric vehicles (EV) as well as (ii) the production equipment for the manufacturing of Nissan’s electric vehicles in Sunderland.
Objectives
The project will support the promoter in the development of its first European plant for the manufacturing of batteries and electric vehicles and the standardisation of the related manufacturing technology for further applications in Europe and North America. As such, it will contribute to (i) accelerate the market introduction and customer adoption of environmental-friendly technologies in the automotive sector and (ii) increase the promoter’s and public stock of knowledge about product and manufacturing technology in the field of electric powertrains and Li-ion batteries for electric vehicles.
Comments
Loan foreseen under the European Clean Transport Facility (ECTF).
Sector(s)
Proposed EIB finance (Approximate amount)
Up to EUR 220 million,
Total cost (Approximate amount)
The estimated project cost amounts to at least EUR 450 million.
Environmental aspects
The project component concerning the investments in the development of manufacturing technologies and industrialisation of the electric vehicle are expected to be carried out in existing facilities already authorised and would therefore not require an Environmental Impact Assessment (EIA) under Annex II of the Directive 85/337/EC, amended by Directives 97/11/EC and 2003/35/EC. The need of a full Environmental Impact Assessment (EIA) of the project component related to the investments in the battery plant, will however be verified during the project due diligence.
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 - 3/11/2011
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).