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EU green cars initiative

The European Green Cars initiative is one of the three PPPs included in the Commission’s recovery package. The envelope for this initiative is foreseen at €5 billion to boost to the automotive industry in a time of economic hardship, and support the development of new, sustainable forms of road transport. Of this financial envelope, € 4 billion will be made available through loans by the European Investment Bank (EIB), and € 1 billion through support to research, with equal contribution from the Seventh Framework Programme for Research (FP7) and from the private sector. Continue reading

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