EIB provides €100 million financing for R&D at Spanish automotive group Antolin

The European Investment Bank (EIB) has signed a €100 million financing package with Spanish car interior supplier Antolin Group to support the company's research and development.

The finance is part of the European Fund for Strategic Investments (EFSI) and will enable Antolin Group to develop new lightweight vehicle interior components for energy-efficient, connected and autonomous vehicles and to create highly skilled jobs.

The agreement was signed July 6 in Madrid by EIB Vice-President Emma Navarro and the chairman of Antolin Group Ernesto Antolin.

“As the EU bank, we are pleased to support a project fostering innovation investment in a key sector for the European economy, while also promoting highly skilled employment,” said Navarro.

“Grupo Antolin endeavours to be the key partner of vehicle manufacturers in developing the interiors of their future cars. The key to this is innovation, something that we will continue to strengthen with the EIB's support,” said Antolin.

The EIB-financed investments will be made in Antolin Group's innovation centres in Spain, Germany and France.

Antolin Group has an R&D budget of nearly €220 million until 2020 which will be spent on developing innovative interiors and designs for self-driving and electric cars. The company also wants to tap the potential of industry 4.0.

The group’s projects are related to natural materials research, future mobility via new vehicle interior concepts and designs, advanced manufacturing and the integration of electronic and lighting functions into automotive components.

Antolin Group has almost 1,000 engineers in Europe, including around 350 in Spain.