Spanish automotive supplier receives €26m EU funding

Biscay, Spain – Spanish rubber and plastic automotive parts supplier Cikautxo Group has received a €26-million loan from the European Investment Bank (EIB) to bolster its ‘innovation strategy’.

In a 5 Feb statement, the European Commission announced that the financing will go towards R&D investment at the company’s Berriatua, Biscay, facility.

The company will research fuel efficiency and lightweighting in hybrid and electric cars with the so-called “EU Junker Plan loan”, said the EC statement.

Among others, the investment will see the launch of a new production processes…

To read more,please login or register below.

This is the first step to more free
content, user offers, subscriptions
and more.
Log in here using the Email Address
and Password you signed up with