The European Investment Bank (EIB) is providing Austrian company KTM AG with a €120 million loan to develop its research and innovation activity. This loan is backed by the European Fund for Strategic Investments (EFSI), the heart of the Investment Plan for Europe – the Juncker Plan.
KTM will use the fresh financing to strengthen its research and innovation capacity in the fields of electrical propulsion systems, cooperative intelligent transport systems, lightweight design and advanced materials and technologies. Commissioner for Transport Violeta Bulc said: “Road transport is at a cross-road and connected, cooperative, automated and autonomous driving will shape road mobility in the years to come, the way motor vehicles did in the last century. It will make mobility safer, cleaner, inclusive and smart. Today’s agreement, backed by the Juncker Plan, is a valuable contribution to a strong and competitive European transport industry that creates jobs and gives an innovation boost to the entire economy.” In October, the Juncker Plan had already mobilised €344.4 billion of additional investments, including over €4 billion in Austria, with 793,000 small and medium businesses set to benefit from improved access to finance. A press release is available here.