Gestamp has secured a €200mn loan from the European Investment Bank to develop safer, lighter, and more environmentally friendly metal processing technology.
Gestamp’s loan, which is backed by the Investment Plan for Europe, will finance research and development (R&D) of new technologies for application in the production of vehicle chassis and bodies over four years. The new components will be intrinsic to the development of electric vehicles (EV) which align with environmental objectives, the company noted in a statement.
Most of the R&D investment will be made at Gestamp’ Spanish headquarters but the funding will also benefit its factories in Germany, France, and Sweden.
The Spanish multinational specializes in the development and manufacturing of metal components for the automotive industry. The company has 43,000 employees with 1,600 in R&D. The automotive sector in the EU employs about 14 million people.