The European Investment Bank (EIB) has committed a substantial investment to Iveco Group N.V., a prominent force in the automotive domain, especially in Commercial & Specialty Vehicles, Powertrain, and associated Financial Services. This initiative, a 450 million euro segment of a larger 500 million euro allocation approved by the EIB’s Board, is signed in Turin and targets the transport sector’s decarbonization, emphasizing electrification, efficiency, and safety.
Funds from this investment will propel Iveco Group’s efforts to forge advanced technologies and designs in electric propulsion. Additionally, the investment will bolster advancements in autonomous driving, digitalization, and vehicle connectivity. These enhancements are anticipated to not only elevate driving safety and comfort but also augment the transport sector’s productivity. Crucially, this funding aims to slash production and operating costs, broadening market access and adoption of these novel technologies.
EIB’s investment dovetails with the overarching European objective of curtailing CO2 emissions in the transport arena, a sector responsible for a significant portion of Europe’s CO2 emissions. Completion is projected by 2025 end, with primary investments in Italy, specifically at Iveco Group’s Turin and Foggia sites, and extending to Germany, France, Spain, the Czech Republic, and Switzerland.
Gilles Badot, EIB’s Operations Director in Italy, emphasized the necessity of such investments for sustainable mobility, vital for expediting transport decarbonization. This EIB-Iveco collaboration not only reaffirms EIB’s dedication to climate transition but also spurs innovation and job creation throughout Italy and Europe.
Iveco Group’s Chief Technology & Digital Officer, Marco Liccardo, acknowledged the EIB’s confidence in their potential to foster sustainable mobility and diminish the transport sector’s carbon footprint. This backing accelerates the development and rollout of key technologies and solutions, pivotal to Iveco Group’s strategic aspirations and the transport industry’s future.
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