Tuesday, December 30, 2008

Piaggio gets €150 million loan from EIB, will develop hybrid and electric two-wheelers

Piaggio will be working towards the development of new-age hybrid and battery-powered electric two-wheelers. The 150 million euro loan from EIB should certainly help...!

The Piaggio Group, which owns the Piaggio, Vespa, Gilera, Aprilia, Derbi and Moto Guzzi brands, will soon be getting a loan of €150 million from the European Investment Bank (EIB), which the company intends to invest towards research and development over the next few years.

According to Michele Pallottini, the COO – Finance, Piaggio Group, the funding will allow Piaggio to expand its R&D activities and start work towards the development of safer, more fuel efficient two-wheelers that are also more environment-friendly.

The EIB has big plans for supporting the European automotive industry and helping it move towards the development of cleaner, greener vehicles that offer ‘sustainable mobility’ in the years to come. The idea is to lessen the impact of the global financial crisis on the European automotive industry, and ensure that the industry keeps moving in the right direction without losing focus.

Taking sales of all its brands into account, the Piaggio Group’s sales were down 5.5% in the first nine months of this year, with the company selling 537,900 units in the January-September 2008 period, compared to 569,300 units sold during the same period in 2007.

Piaggio, which has to pay off the €150 million loan over a period of seven years, intends to invest the money in the development of hybrid and electric vehicles, as well towards the development of two-wheeler safety technologies.

Also see:
Face-off: Honda vs Zonda!
Valentino Rossi, on learning to lose...
Buell 1125CR riding impression...
Pics and specs: The hot new BMW K1300R...
Battle of the Twins: Ducati 1098R vs Bimota DB7!
Over the top: The maddest scooter ever...
The Husqvarna V1000 Gran Turismo concept...
Pics from Milan: The 2008 EICMA...

No comments:



2WD AC Schnitzer AJS Akrapovic all-wheel-drive Alpinestars AMG Aprilia Ariel Audi Avinton Bajaj Barry Sheene Benelli Bianchi Bimota BMW Bosch Brammo Brembo Britten BSA Buell Bultaco Cagiva Campagna Can-Am Carver Casey Stoner Caterham Chinese bikes Classics Concept Bike Confederate CRandS Custom-built Dainese Derbi Diesel Ducati Eddie Lawson EICMA 2008 EICMA 2009 EICMA 2012 EICMA 2013 EICMA 2014 EICMA 2015 EICMA 2016 Electric Ferrari Fischer flying machines Freddie Spencer Giacomo Agostini Gilera Harley-Davidson Helmets Henderson Hero Motocorp Hesketh Honda Horex Husqvarna Hybrid Hyosung Ilmor Indian Intermot 2012 Intermot 2014 Intermot 2016 Interviews Isle of Man TT Jawa Jay Leno Jeremy Burgess Kawasaki Kevin Schwantz KTM Lamborghini Lambretta Laverda Lazareth Lotus Mahindra Malaguti Markus Hofmann McLaren Mercedes-Benz Mick Doohan Midual Millepercento Mission Motors Mondial Morbidelli Morgan Moriwaki Moto Guzzi Moto Morini Moto2 Moto3 MotoCzysz MotoGP MotoGP-2007 MotoGP-2008 MotoGP-2009 MotoGP-2010 Motorcycle Design Motus MTT MV Agusta MZ News Nissan Norton NSU Peraves Petronas Peugeot Photography Piaggio Porsche Quad Renard Renault Riding Impressions Roehr Ronax Ronin Rotary Royal Enfield Scooters Segway Shootouts Short Films Skills Specials stunt riding Supercharged Suter Suzuki Toyota Travel trike Triumph Turbo TVS Two-stroke Ural V10 V12 V4 V6 V8 Valentino Rossi Velocette Vespa Victory Vincent Volkswagen Voxan Vyrus Wakan Wayne Gardner Wayne Rainey Wunderlich Yamaha Yoshimura Zagato