Milan, 3 December 2015 – The European Investment Bank and Piaggio today signed a 70 million euro finance contract to fund Piaggio Group research and development projects.
The seven-year loan covers R&D projects to be conducted at the Piaggio Group’s Italian sites.
The investments planned by Piaggio for the three years 2016-2018 will enable the Group to continue and intensify its R&D work to bring to market innovative, eco-sustainable scooters, motorcycles and commercial vehicles that are safer and more reliable, with lower fuel consumption and emissions.
For the EIB, the loan is part of a core lending program to support research into and the development and implementation of cleaner, more efficient technologies for transport, in order to help reduce greenhouse gas emissions from traffic.
For the Piaggio Group, the loan agreement signed today with the EIB will support the development of innovative technological product and process solutions in active and passive safety, sustainability (including electric motors and reduction of fuel consumption in combustion engines) and customer satisfaction, based on research into new mobility concepts, new driver-vehicle interfaces, and communication and web access protocols. The loan, whose borrowing conditions are highly competitive compared with current market conditions, will also further strengthen the Group’s financial structure and extend its average debt life.