EIB funds Mahle for low- & zero-emission technologies
Automotive supplier Mahle is receiving a loan of 300 million euros from the European Investment Bank (EIB) for the development of new technologies related to zero- and low-emission technologies such as battery electric vehicles, plug-in hybrids and hydrogen fuel cell vehicles.
Mahle’s projects include investments in technologies such as electric motors, battery components, power electronics, thermal management and hydrogen and fuel cell components. The German engineering firm is researching and developing for this purpose in eight EU countries.
“With this investment, we will jointly contribute to a more efficient and sustainable European transport system. The project is in line with the bank’s climate roadmap in support of international climate goals,” said EIB Vice-President Ambroise Fayolle, who is responsible for climate action at the EU bank. “Through investments in zero-emissions technologies, we are accelerating the transition to a reduced carbon footprint, helping to make individual mobility more efficient, more sustainable, and therefore more environmentally compatible,” added Michael Frick, Mahle’s interim CEO and CFO.
Mahle says it is focusing on the strategic fields of electromobility and thermal management as well as other technical fields to reduce CO2 emissions, such as fuel cells or highly efficient combustion engines powered by e-fuels or hydrogen. To date, the Group generates more than 60 per cent of its sales independently of the internal combustion engine for passenger cars. By 2030, this share is set to rise to 75 per cent.
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