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Add to Preferred SourcesThe European Investment Bank (EIB) is lending EUR 120 million to KTM AG, an Austrian motorcycle manufacturer. The financing of the EU bank will support KTM´s investments in research, development, and innovation (RDI).
The EIB loan is backed by a guarantee from the European Fund for Strategic Investments (EFSI). EFSI is an essential pillar of the Investment Plan for Europe – also known as the Juncker Plan – under which the EIB and the European Commission are working together as strategic partners and the EIB’s financing operations are boosting the competitiveness of the European economy.
In particular, KTM will use the fresh financing to strengthen RDI in the fields of electrical propulsion systems, cooperative intelligent transport systems, and lightweight design. In addition, the EU support will go to RDI of advanced materials and technologies for motorcycles as well as to future urban mobility concepts. The investments will be carried out primarily in KTM´s R&D centre located in Mattighofen (Austria) in the period 2018-2020.
EIB Vice-President Andrew McDowell, who is responsible for operations in Austria at the Bank, underlined: “Research, development and innovation are key ingredients for ensuring sustainable growth and creating high-value jobs. For the EIB, this is a top priority. Therefore I am delighted to continue our excellent and constructive cooperation with KTM. The company is a leading European player in the high quality off-road and street-legal motorcycle segments and KTM is the leading global off-road brand. The new investments are crucial for KTM to keep its position as an innovation leader in the global motorcycle industry.”
Original source: EIB
Published on 6 November 2018