The European Investment Bank (EIB) is supporting the research and development of Germany’s fourth-largest automotive supplier MAHLE with a loan of €300 million to accelerate vehicle electrification and the decarbonisation of road traffic. The projects include investments in eco-friendly technologies such as electric motor and battery components, thermal management, cooling and air quality systems, hydrogen and fuel cell components as well as power electronics and traction motors.
MAHLE is working on the climate-neutral mobility of tomorrow with a focus on the strategic fields of electromobility and thermal management as well as other technology areas for reducing CO2 emissions, for example fuel cells and highly efficient combustion engines that run on e-fuels or hydrogen. The group already generates over 60 percent of its sales independently of the passenger car internal combustion engine. By 2030, this share is set to increase to 75 percent.
According to its lending criteria, the EIB is able to finance a meaningful amount of MAHLE`s research and development projects as the company´s investments in sustainable technologies aim to significantly reduce the carbon footprint of mobility.
EIB`s Vice-President Ambroise Fayolle, in charge of climate action at the EU bank, said: “We are proud to support MAHLE`s research and development in innovative technologies for zero-emissons vehicles. With this investment, together we will contribute to a more efficient and sustainable European transport system. The project is aligned with the EIB`s Climate Bank Roadmap in support of international climate goals. This is a truly European project, with research being carried out in Germany and seven other EU countries.”
Michael Frick, MAHLE’s Chairman of the Management Board (ad interim) and CFO, is pleased about the cooperation. “Taking responsibility is part of MAHLE`s DNA as a foundation-based company. We see the Paris climate agreement as a binding mandate to minimize emissions caused by road traffic. 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.”