3 Jul 2020
EUR 60 million
Financial institutions and SMEs
|Date of agreement:||27 Nov 2012|
|Customer:||Volvo Treasury AB|
|Amount in EUR:||EUR 100 million|
|NACE sector / loan type:||Research and development|
|Business area:||Industries and services|
Volvo Treasury, the in-house bank of Volvo Group, will provide funding to develop and produce engines that are compliant with forthcoming European emission regulations. The new European Union VI emission standard will further reduce output of hydrocarbons, nitrogen oxides and particulates from diesel vehicles. The R&D project will also innovate in hybrid energy technologies, active steering and control systems and fuel economy technologies.
NIB’s loan adds value to Volvo Group’s product offerings and may help it expand in other markets as standardization requirements converge. The breadth of the automotive sector in Sweden increases the likelihood of positive spill-over effects to other companies in the region through skills and knowledge transfers.
Volvo's R&D projects to develop less polluting solutions that meet more stringent legislation, as well as projects to develop hybrid technologies, will contribute to reduced emissions of greenhouse gases from future vehicles.