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Volkswagen points inexperienced bonds to finance MEB, EVs | Automotive Business Information – Auto Information by Automobilnews.eu

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Volkswagen points inexperienced bonds to finance MEB, EVs | Automotive Business Information


Volkswagen Group says it has efficiently positioned its first inexperienced bonds with a quantity of EUR2bn earmarked to fund EV initiatives, together with its MEB platform.

The benchmark bonds, that are denominated in euros, have phrases of 8 and 12 years and coupons (returns to traders) of 0.875% and 1.250% respectively. VW says traders confirmed appreciable curiosity, together with each worldwide and specialised inexperienced bond traders. 

VW says the proceeds of the bonds will likely be utilized in a focused method to fund the modular electrical drive matrix (MEB) and the brand new BEV fashions ID.3 and ID.4. Annual reporting on using the proceeds and the environmental results achieved will create transparency for traders, it says.

Frank Witter, Member of the Group Board of Administration answerable for Finance and IT, stated: “With the issuance of our first Inexperienced Bonds, we’re giving traders the chance to make sustainable investments in the way forward for e-mobility. It’s a strategic milestone in our financing technique, which we mix with our company goal of CO2 neutrality in 2050. The Volkswagen Group is thus efficiently lively in the important thing progress phase of inexperienced bonds. Inside the framework of our complete electrical offensive, this may more and more be the case sooner or later.”

The funds generated by the primary inexperienced bonds will likely be utilized in a focused manner for the refinancing of initiatives related with the modular electrical drive matrix (MEB) and the brand new BEV fashions ID.3 and ID.4. The initiatives will embrace investments and expenditures for conceptual design, infrastructure, improvement and manufacturing of the modular electrical drive matrix (MEB) itself, for the electrical autos talked about above based mostly on this matrix and the manufacturing services required in addition to instruments and methods from suppliers and key elements (equivalent to batteries).



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Volkswagen points inexperienced bonds to finance MEB, EVs | Automotive Business Information – Auto Information by Automobilnews.eu
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