This Monday, the European Investment Bank (EIB) announced the approval of a loan of 450 million euros (which will rise to 500 million) to the Iveco Group. This support aims to promote electrification, efficiency and safety in the transportation sector through investments in Research, Development and Innovation. The financing, approved in Turin, is the first part of a total of 500 million approved by the EIB board of directors.
With a repayment period of 8 years, the loan will be available soon, allowing Iveco to advance innovative technologies in electric propulsion and improve efficiency, safety, comfort and productivity through solutions for autonomous driving, digitalization and vehicle connectivity.
These EIB investments will not only benefit electric and fuel cell vehicles, but will also help reduce production and operating costs, facilitating the adoption of these technologies in the market.
The investments will be made mainly in Italy, in the Iveco plants in Turin and Foggia, and also in Germany, France, Spain, the Czech Republic and Switzerland, towards the end of 2025. Gilles Badot, EIB Director of Operations in Italy, highlights the importance of investing in projects that promote sustainable mobility and accelerate the decarbonization of transport in Europe.
Badot states that this operation with Iveco demonstrates the EIB’s strong commitment to the climate transition and contributes to promoting innovation and job creation in Italy and Europe. Marco Liccardo, Iveco’s technology and digital director, highlights that this “important financing from the EIB” confirms confidence in the group’s ability to promote sustainable mobility and its “continuous efforts” to reduce the carbon footprint of transport.
