Renault scores loan for EV development
The European Investment Bank (EIB) has granted the Renault Group a €180m (£149m) loan to develop future vehicle lithium-ion battery and electric motor technology. The main objective is to make electric vehicles more competitive and ultimately speed up the development of a mass market.This loan continues the partnership established between the EIB and Renault in 2009. It received a €400m loan from the EIB for R&D aimed at optimising and increasing the efficiency of conventional powertrains, and developing wholly electric vehicles, the first of which to come to market was the Kangoo Z.E. which went on sale in the UK November 2011.
“We support leading-edge technologies since they shape the future in terms of sustainable development and competitiveness,” said EIB vice president Philippe de Fontaine Vive at the recent signing ceremony. “This cooperation will enable us to prepare together the future of the motor industry in Europe, whose citizens will be the first to benefit in their day-to-day lives”.










