EBRO Motors Secures €200m Financing for Expansion

EBRO Motors Group EV SA has secured a significant financing agreement valued at approximately €200 million. This facility, obtained from the Anhui Branch of the Export-Import Bank of China, aims to support EBRO's subsidiaries: EBRO SUV, S.L. and EBRO Factory, S.L. An initial drawdown of around €35 million is planned, targeting upgrades in EBRO's painting plant and new production lines.

The financing terms include a 10-year loan with a fixed interest rate of 2.65% and a three-year grace period. EBRO, holding a 60% stake, guarantees proportionally to its ownership, while Chery holds the remaining 40%. This backing strengthens EBRO's position amid European localisation demands following increased import restrictions.

Chery's European sales are projected to necessitate alternative production of 80-100k vehicles annually. Entwining these volumes with EBRO's capacities in Barcelona could bolster production significantly, aligning with strategic expansion goals.