ANNOUNCEMENT 15 Nov 2012

On 15 November 2012, the EIB provided financing worth EUR 300 million (USD 385 million).

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising
Inception date: 15 Nov 2012 | Removal date: open ended

State loan

On 15 November 2012, the European Investment Bank (EIB) and Robert Bosch Gmbh signed an agreement worth EUR 300 million (approx. USD 385 million) for the project Bosch R&d Centre & Car Electrification from Germany. The total cost of the project is estimated at EUR 732 million.

According to the project description issued by the EIB, The project concerns Robert Bosch GmbHs investments for a new R&D centre in Renningen, Germany, which will host all the Bosch Automotive Corporate Research and Advanced Engineering activities. The project also includes the promoters selected R&D Vehicle Electrification activities for the development of an innovative Electric Machine and Power Electronics technology platform as well as Advanced Systems technology for application in hybrid and electric vehicles..

The objective of the project is defined as following: The project concerns the promoter’s investments for the construction of a new R&D centre in Renningen, Germany. The new R&D centre is to become the new hub of the Bosch Group’s research and advance engineering activities. This will therefore allow a more efficient use of resources, enhance increased collaboration and integration of different competencies, and result in increased efficiency of research work and projects. The new research campus will implement a sustainable energy and environmental concept. The project also includes the promoter’s R&D investments, to be carried out in the period 2012-2016, for the development of advanced technology in the fields of power electronics and e-machines for hybrid and electric-vehicle platforms. The R&D investments will be carried out in Germany, in the area of Stuttgart..

A state act in the GTA database is assessed solely in terms of the extent to which its implementation affects foreign commercial interests. On this metric, the investment support granted here is discriminatory.