19 Jan 2023
NIB finances Scania’s R&D programme
NIB and Scania CV AB have agreed an 8-year investment loan of EUR 175 million to finance Scania’s R&D investments to develop new electric truck and bus models.
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) and batteries as future drivetrain technology for its trucks and busses.
This R&D programme is part of Scania’s electrification roadmap. Scania launched its first hybrid bus model in 2014, its first hybrid truck model in 2016 and the first fully electric BEV truck in 2020. Scania’s ambition is that at least 50% of the total vehicle sales volume by 2030, should be electric 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 project is eligible for financing from the proceeds of NIB Environmental Bonds. The project also fulfils the EU Taxonomy’s substantial contribution criteria for climate mitigation.
“The green transition of the transport sector requires extensive investments in R&D and product development. This loan is an important component in accelerating electrification in the Nordic-Baltic region” says André Küüsvek, NIB President & CEO.
“Scania invests in R&D to secure the transition to fossil-free transport solutions. We are pleased that we settled this 8-year investment loan with NIB for electrified transport,” says Jonas Rickberg, Chief Financial Officer at Scania.
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.
NIB is an international financial institution owned by eight member countries: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. The Bank finances private and public projects in and outside the member countries. NIB has the highest possible credit rating, AAA/Aaa, with the leading rating agencies Standard & Poor’s and Moody’s.
For further information, please contact
Nicolas Audibert, Director, Lending department, at +358 50 311 3689, Nicolas.Audibert@nib.int
David B. Rasmusson, Communications unit, at +358 50 476 3071, email@example.com