Sweden. Scania CV AB
| Date of agreement: | 19 Dec 2022 |
|---|---|
| Country: | Sweden |
| Customer: | Scania CV AB |
| Amount in EUR: | EUR 175 million |
| Maturity: | 8 years |
| NACE sector / loan type: | Research and development |
Financing from NIB Environmental Bond proceeds
NEB-eligible share: 100%
NEB category: Clean transport solutions
Amount disbursed: EUR 175 million
Note: For loans in other currencies than EUR, the equivalent in EUR is based on the exchange rate effective for the disbursement. Read more about the NIB Environmental Bonds
Project
The loan will co-finance Scania’s R&D investments between 2022-2024 to develop new electric bus and truck models. Scania is investing in Battery Electric Vehicles (BEV) as a future drivetrain technology for its trucks and busses.
The project is eligible for financing from the proceeds of NIB Environmental Bonds. The project also is considered to be aligned with the EU Taxonomy’s substantial contribution criteria for climate mitigation.
This R&D programme is part of Scania’s electrification roadmap. This journey started in 2020 with the launch of the first battery electric trucks. By 2030, Scania aims at having 50% of its total sales volume coming from electrically powered vehicles. Over the next few years, Scania will launch a number of new electric truck models designed to carry increasingly heavier loads over longer distances.
The green transition of the transport sector is happening fast and requires large investments in R&D and product development. Scania has its main R&D centre in Södertälje, Sweden, where approximately 4,800 people are working. Of these, 900 are working with electrification. The electrification roadmap is an important element for Scania in order to reach its CO2 emission targets under the Science Based Targets initiative.
Scania is a world-leading provider of transport solutions, including trucks and buses for heavy transport applications combined with an extensive product-related service offering. It operates in about 100 countries and has some 54,000 employees. Scania is part of Traton Group, listed in Stockholm and Frankfurt.
Fulfilment of NIB's mandate
R&D investments will positively impact the environment by reducing the life cycle emissions of greenhouse gases as well as the vehicles exhaust emissions. The loan will also increase competence and support the scale up in the electrification of the transport section.
Sustainability summary
NIB has not identified any significant environmental concerns connected to the R&D programme.
