European Investment Bank Demonstrates Support for Spanish Automotive Industry with Huge Loan

Gestamp promoting sustainability before lockdown Credit: Gestamp

SPANISH multinational company Gestamp, which specialises in the development and manufacture of metal components for the automotive industry, is receiving a €200 million loan from the European Investment Bank (EIB).

These funds will be used to develop new research lines enabling the production of safer, lighter and therefore more environmentally friendly cars.

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Gestamp’s strategy will centre on the development of new metal processing technologies for application to the production of vehicle components such as chassis and bodywork.

The project aims to facilitate the design of lighter and safer vehicles. The new components will also boost the development of electric vehicles, helping to cut emissions.

The project will be implemented over a period of four years and will help to safeguard highly skilled jobs which is important following the reduction of business caused by the coronavirus, Covid-19 pandemic.


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