The European Investment Bank (EIB) has announced a 300 million loan to support research and development work at MAHLE, Germany’s fourth largest automotive supplier, with the goal of supporting and developing innovative zero-emissions vehicle technologies, advancing the transport sector’s objectives in Europe, and accelerating vehicle use growth. Electricity and traffic decarbonization
According to a bank statement issued today, Sunday, EIB Vice President Ambroise Fayol, who is in charge of climate action at the bank, praised the bank’s role in developing research on the transport sector in Europe in collaboration with the German company MAHLE and seven other European Union countries, with the goal of moving to a more efficient and sustainable European economy in line with the European Bank’s climate roadmap and international climate goals.
In addition to power electronics and traction engines, Fayol stated that the loan includes investments in environmentally friendly technologies such as electric motors, battery components, thermal management, cooling systems, air quality, hydrogen components, and fuel cells.
For his part, MAHLE Chairman and Chief Financial Officer Michael Frick expressed his delight with the collaboration, emphasising the company’s commitment to implementing the Paris Climate Agreement to reduce emissions from road traffic and investments in zero-emission technologies, as well as accelerating the transition to a low carbon footprint, thereby making individual mobility more efficient, sustainable, and environmentally friendly.
Frick emphasised the company’s commitment to developing climate-neutral transportation solutions in the future, with an emphasis on electric mobility and thermal management, as well as other carbon-dioxide-reducing technologies like as fuel cells and highly efficient hydrogen-fueled combustion engines.
It should be noted that the European Investment Bank’s activities, in collaboration with other EU institutions, focus on priority areas such as climate, environment, development, innovation, skills, small and medium-sized businesses, and infrastructure, in order to promote and develop European integration and support EU policies in more than 140 countries around the world.
With 300 million euros, European funding supports zero-emission car technologies in Germany.
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