DAIMLER EXPECTED TO GET EIB BACKING FOR MAJOR ELECTRIC CAR PROGRAMME
April 1st, 2010
BY KEITH NUTHALL DAIMLER is lining up Euro 400 million in backing from the European Investment Bank (EIB) for a major research and development programme to develop new electric and hybrid vehicles. The German carmaker is planning to spend Euro 1.7 billion on creating new battery and fuel cell cars, and new electric power engine trains, including batteries for hybrids (and plug-in hybrids) with an extended driving range. The EIB is formally considering making a loan covering just under 25% of costs; a memorandum said: "The project is a prerequisite for the ...
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