FCA PLUG-IN HYBRID ELECTRIC VEHICLES - COVID-19

Promoter – Financial Intermediary

FIAT CHRYSLER AUTOMOBILES NV

Location

• Italy

Description

The project concerns the Promoter's (i) investments to set up an innovative production line for the manufacturing of plug-in hybrid electric vehicles (PHEVs), at the Promoter's production plant in Pomigliano (Italy), including the buildup of permanent inventory; and (ii) investments in research and development (R&D) activities in the field of vehicle automation, safety and connectivity, at the Promoter's R&D centres, mainly in Torino (Italy). The investments will be carried out in the period 2020-2023.

Objectives

The project aims at supporting the Promoter's investments for the manufacturing deployment of advanced vehicle powertrain electrification technologies investments. It also aims at supporting innovative research and development in the field of advanced driving assistance, connectivity technologies as well as research aimed at improving the safety characteristics of vehicles.

Sector(s)

• Industry - Manufacturing

Proposed EIB finance (Approximate amount)

EUR 485 million

Total cost (Approximate amount)

EUR 658 million

Environmental aspects

The project concerns investments for the deployment of automotive assembly lines and equipment in existing facilities without changing the already authorised scope of activity. Manufacturing and assembly of motor vehicles fall under Annex II of the EIA directive 2014/52/EU amending the EIA Directive 2011/92/EU, and the Bank's services will review during the project appraisal whether any of the investments require an environmental impact assessment (EIA), and if so the status, as well as any other environmental details of the project. The implementation of this project is expected to contribute to the adoption of zero-emission capable vehicles and the deployment of a more sustainable transport system in Europe.

Procurement

The Promoter has been assessed by the EIB as being a private company not subject to EU rules on public procurement or concessions. However, if after the project appraisal, the EIB were to conclude that the Promoter is after all subject to EU public procurement legislation, Directive 2014/24/EU, then the Bank would require the Promoter to ensure that contracts for the implementation of the project will be tendered in accordance with the relevant applicable EU procurement legislation Directive 2014/24/EU, as well as Directive 89/665/EEC, as interpreted by the Court of Justice of the EU, with publication of tender notices in the Official Journal of the EU, as and where required.

Status

Signed - 8/09/2020