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LDV needs private investor before it can access EIB funds

LDV must secure funding from a private investor before it can benefit from any money from the European Investment Bank (EIB).

LDV applied for an European Investment bank (EIB) loan in January but has told employees via its blog that it can’t access funds until the future of the company is secure.

The EIB fund, which released £710m to Nissan and Jaguar Land Rover’s UK operations, can only be used to invest in low carbon technology and not an immediate crisis of working capital shortage within a company.

LDV said: “It is however positive to see how quickly the applications for JLR and Nissan have been processed and this gives further confidence in the business case for investors in LDV, that additional funds for development of LDV's world leading low carbon vehicles, could be made available quickly through this route.”

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