NIB finances test centre for electromobility in Sweden

NIB and the Swedish special purpose company Swedish Electric Transport Laboratory AB (SEEL) have agreed on a 16-year debt financing of SEK 630 million (EUR 63 million) to finance the construction of laboratories and test sites for vehicle battery development and electrified transport.

The Swedish Electric Transport Laboratory will provide a test centre for different areas and aspects of electrified transport, such as component testing for hybrids and electric cars, the development of vehicle batteries, charging and smart power management as well as testing of electrified gear boxes and drive shafts for different kinds of vehicles.

During the years 2020–2025, a significant shift towards electrified vehicles is expected, and the SEEL test site will allow car manufacturers to develop and verify new technologies. The project will establish facilities at three sites: in Gothenburg, at the Research Institute of Sweden (RISE) facility in Borås, and in Nykvarn.

The project will be part of the EU Forum for Important Projects of Common European Interest (IPCEI).

The Swedish Electric Transport Laboratory AB (SEEL) is a special purpose company established by the state-owned Research Institutes of Sweden (RISE) and Chalmers University of Technology in Gothenburg, Sweden. The company’s industrial partners are Scania, CEVT (China Euro Vehicle Technology, owned by Geely), as well as Volvo Group and Volvo Cars.

NIB is an international financial institution owned by eight member countries: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. The Bank finances private and public projects in and outside the member countries. NIB has the highest possible credit rating, AAA/Aaa, with the leading rating agencies Standard & Poor’s and Moody’s.

For further information, please contact

Mr Tore Emanuelsson, Senior Banker, Infrastructure, 
at +358 10 618 0244, tore.emanuelsson@nib.int
Mr Vytautas Brazaitis, Communications Unit, at +358 10 618 0235, vytautas.brazaitis@nib.int