Release date: 17 September 2019
Promoter – Financial Intermediary
EMOTORSLocation
Description
The project concerns the promoter's expenditure in the development of electric motors for electric and electrified (hybrid) vehicles, as well as the investments for setting up the manufacturing process.
Objectives
The project will support the design and manufacturing of a state of the art, cost efficient product specific for electrified automotive applications. This should help Original Equipment Manufacturers (OEMs) to address their electrification targets in 2025 and beyond.
Sector(s)
- Industry - Manufacturing
Proposed EIB finance (Approximate amount)
EUR 145 million
Total cost (Approximate amount)
EUR 343 million
Environmental aspects
The R&D activities will take place within existing facilities without changing their authorised scope and therefore do not fall under Annex I and II of Directive 2011/92/EC as amended. The component related to the manufacturing of motors falls under the Annex II Environmental Impact Assessment (EIA) Directive 2011/92/EU as amended. All environmental, issues including environmental and operational authorisations will be reviewed during the due diligence process.
Procurement
Being the promoter a private company not operating in the utilities sector and not having a status of contracting authority, it it is not covered by EU Directives on procurement.
Status
Approved - 24/01/2020
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).