VALEO RDI FOR ELECTRIC VEHICLES AND CAR SAFETY

Promoter – Financial Intermediary

VALEO

Location

• Belgium
• Czechia
• France
• Germany
• Ireland
• Spain

Description

The project concerns the promoter's research, development and innovation activities in advanced technologies aiming to increase the levels of Decarbonisation and Safety in passenger vehicles. The project will be implemented in the period 2020-2024 at the promoter's research and development centres located in France, Germany, Czech Republic, Ireland, Belgium and Spain.

Objectives

The project will help to strengthen the company's technology competence and contribute to the ongoing transformation of the automotive industry driven by the following revolutions: - "greener" mobility based on powertrain electrification; - safer mobility based on advanced driver assistance systems (ADAS) and autonomous cars.

Sector(s)

• Industry - Manufacturing

Proposed EIB finance (Approximate amount)

EUR 600 million

Total cost (Approximate amount)

EUR 1426 million

Environmental aspects

The project concerns investments for research and development activities to be carried out in existing facilities without changing their already authorised scope of activity, for which an EIA is not required by the Environmental Impact Assessment (EIA) Directive 2014/52/EU amending the Directive 2011/92/EU. The implementation of this project is expected to lead to the development and adoption of zero-emission, safer and connected vehicle technologies and to the deployment of a more sustainable transport system in Europe.

Procurement

The promoter has been assessed by EIB as being a private company not operating in the utilities sector and not having a status of a contracting entity, thus not being subject to EU rules on public procurement.

Status

Signed - 4/02/2021