€300 million for eco-friendly technologies – EIB and MAN agree loan
The Luxembourg-based European Investment Bank (EIB) and Munich-based MAN Group have concluded a loan agreement for €300 million to stimulate research in the commercial vehicles field. The funds are for the development and launch of reduced-emission and fuel-efficient drives for trucks and buses.
The loan is part of a finance program to foster investment in research, development and innovation with the aim of reducing emissions and improving energy efficiency in the European transportation sector.
Over the next four years, the MAN Group will focus its research activities on further reducing the fuel consumption and pollutant emissions of commercial vehicles in an extensive program to boost transportation efficiency. The development and use of highly efficient Euro 5 and Euro 6 engines as well as the launch of systems to recuperate heat and energy are part of this. Other projects include developing buses and trucks with hybrid drive further, reducing their weight, managing energy and optimizing the dynamics and control of the vehicles as well as developing new simulation techniques. MAN's total investments for this are estimated at more than €600 million.
About the European Investment Bank:
The European Investment Bank was created by the Treaty of Rome in 1958 as the long-term lending bank of the European Union. The task of the Bank is to contribute towards the integration, balanced development and economic and social cohesion of the EU Member States.
The EIB raises substantial volumes of funds on the capital markets which it lends on favourable terms to projects furthering EU policy objectives. The EIB continuously adapts its activity to developments in EU policies.
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