Brussels, 14/12/2011 (Agence Europe) - The European Investment Bank (EIB) has decided to grant the Austrian development service provider, AVL List, a €30 million loan for research and development involving environmentally friendly power trains. The loan agreement was signed at the automative component manufacturer's headquarters in Graz.
AVL List is developing a broad range of power trains, including both combustion and electric/hybrid engines. The Austrian company also specialises in developing plant and equipment for testing engines and vehicles. The loan, granted on 9 December, will enable AVL to step up its R&D aimed at reducing emissions in both combustion and electric engines. (OL/transl.jl)