The European Investment Bank (EIB) has announced the agreement of a further loan to Emotors for €85 million at the official inauguration of the plant that will produce the company’s electric motors.
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The loan will support the investments Emotors must make to develop electric vehicle transmission technologies and put them into production.
The research and development activities will focus on creating four types of electric motor for use in battery-powered electric vehicles, as well as power converters for the electric motors.
This research and development will be carried out at existing research facilities at Emotors headquarters in Carrières-sous-Poissy in Yvelines. Production at the Trémery-Metz plant, located in France’s Grand Est region, will be fully automated and based on industry 4.0 standards and principles.
Emotors already received its first EIB loan in 2020, for €145 million. This helped finance the company’s investments to develop and manufacture its first electric motors, which rolled off the production line in 2022. The new motors under this second project will enter production between 2024 and 2026.
The project will ramp up investment by European players in the development of technologies for electric powertrains, better positioning them to navigate the ongoing transformation in the automotive industry and the mobility industry at large.
It is also a chance for them to strengthen their technological know-how and ability to compete in rapidly expanding technological and commercial domains.
This second loan to Emotors also serves the strategy of major automotive group Stellantis as it works to electrify its fleet. In addition, it will permit other European suppliers to benefit from Emotors’ range of electric motors, helping provide competitive electric mobility product offerings to consumers in Europe and elsewhere.
Based in Carrières-sous-Poissy in Yvelines, Emotors is a 50/50 joint venture between the Stellantis automotive group and Nidec Leroy-Somer, a French subsidiary of the Japanese electric motor manufacturer Nidec.
It produces electric powertrains at the Trémery facility located in Moselle in France’s Grand Est region, with an annual production capacity of 200 000 units per year — to be increased to more than 1 million in 2024. ■
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