The European Investment Bank (EIB) will loan Iveco Group N.V. up to €500 million to contribute to the electrification, efficiency and safety of the transport sector through investments in research, development and innovation.

A loan of €450 million represents the first tranche of the €500 million total approved by the Board of Directors of the EIB. The loan, with an 8-year amortisation profile, will be drawn in full shortly.

The resources made available by EIB will enable Iveco Group to develop innovative technologies and architectures in the field of electric propulsion. The Iveco Group will also increase efficiency, safety, driving comfort and productivity by further developing solutions for autonomous driving, digitalization and vehicle connectivity.

The EIB investments will not only contribute to improving electric and fuel cell vehicles, but also to reducing production costs and operating costs of the products and services, facilitating wider penetration in the market of these new technologies.

The investments will be made by the end of 2025, mainly in Italy—specifically in the Iveco Group Turin and Foggia plants—but also in Germany, France, Spain, Czech Republic and Switzerland.