Austria: Powertrain developer AVL receives EIB top-up financing of €50 million

Austria: Powertrain developer AVL receives EIB top-up financing of 50million

Metadata
Provider: 
ECEC
URL: 
https://www.eib.org/press/all/2020-224-austria-powertrain-developer-avl-receives-eib-top-up-financing-of-eur50-millionhttps://www.eib.org/press/all/2020-224-austria-powertrain-developer-avl-receives-eib-top-up-financing-of-eur50-million
Retrieved on: 
Friday, August 21, 2020
Information
Tags: 
European Union, Multilateral development banks, AVL, Financial services, Finance, European Investment Bank, EIB
Summary
Key Points: 
  • Austria: Powertrain developer AVL receives EIB top-up financing of 50million

    The European Investment Bank (EIB) is providing a 50million loan to AVL List GmbH (AVL).

  • The Austrian company specialises in the development of innovative powertrain systems for global automotive and transport industries.
  • Yorck Schmidt, Chief Financial Officer of AVL, explained: The loan granted by the EIB is testimony to the very successful ongoing partnership between AVL and the EIB since 2007.
  • In July, the EIB Group exceeded its target to trigger 500billion of additional investment by the end of 2020.
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