EIB And CIE Automotive Sign €36M Loan For Research And Development In Advanced Technologies
Business
The financing will also support CIE Automotive’s investments in process optimization through digitization, and in the development of more sustainable manufacturing technology.
The investments will take place in the company’s facilities in Spain, Germany, France, and Italy, some of which are located in cohesion regions.
The partnership between CIE Automotive and the EIB dates to 2009. Since then, the EIB has helped to finance the company’s research and development activities, strengthening its ability to compete globally.
The EIB operation will boost the competitiveness of the European Union and help to re-industrialize a sector undergoing transformation due to the impact of developments such as electrification and digitization. It will also help to create and sustain high value-added jobs in four EU countries.