Germany’s fourth largest automotive supplier, MAHLE, announced on Tuesday, August 30, that it has received a loan of €300M from the European Investment Bank (EIB) to accelerate research and development on vehicle electrification and the decarbonisation of road traffic.
The projects include investments in environmentally friendly technologies such as electric motor and battery components, thermal management, cooling, and air quality systems, hydrogen and fuel cell components, power electronics, and traction motors.
MAHLE leaps towards sustainable technologies
Stuttgart-based MAHLE is developing climate-neutral mobility, with an emphasis on electromobility and thermal management, as well as additional technological areas for lowering CO2 emissions, such as fuel cells and highly efficient combustion engines that operate on e-fuels or hydrogen. The firm earns more than 60 per cent of its revenues without relying on internal combustion engines. This percentage is expected to rise to 75 per cent by 2030.
Michael Frick, MAHLE’s chairman of the Management Board (ad interim) and its chief financial officer, says, “Taking responsibility is part of MAHLE’s DNA as a foundation-based company. We see the Paris climate agreement as a binding mandate to minimise emissions caused by road traffic. Through investments in zero-emissions technologies, we are accelerating the transition to a reduced carbon footprint, helping to make individual mobility more efficient, more sustainable, and therefore more environmentally compatible.”