Under the Cooperation Programme, a €180 million loan to the Renault Group was approved to support Research and Development on a new generation of batteries and motors for electric vehicles. The loan will be deployed in France to develop motors for electric vehicles, thus generating expertise in products and processes for lithium-ion batteries and engine technologies for electric powertrains. The objective is to speed up the development of a mass market for electric vehicles.
Under the Capacities Programme, the RSSF supported the European Investment Bank in offering a credit facility of up to €300 million to the European Southern Observatory (ESO) towards the construction of the European Extremely Large Telescope (E-ELT). The telescope will provide new insight into our solar system, transmitting the first-ever images of earth-like planets and distant objects created at the birth of our universe.