The European Bank for Reconstruction and Development (EBRD) provides a loan of up to 75 million euro to German auto parts manufacturer Draexlmaier Group for electric mobility investments and general capital expenditure in three countries in South East Europe – Romania, Macedonia of the North and Moldova, according to SeeNews.

The senior unsecured loan will support the expansion of Draexlmaier’s production capacity in Romania for high-voltage wiring units and battery systems for electric vehicles and expand access to market-relevant skills, the EBRD said in the project’s brief.

Draexlmeier will introduce new emerging technical skills training and apprenticeship programs in collaboration with local universities to support workforce readiness and inclusion in the region, according to the statement.

In October 2021, the EBRD invested €25 million in a €350 million ESG-related Schuldschein bond issue by German car company Fritz Draexlmaier to support investments in Romania, Moldova and North Macedonia. The lender’s previous financing also aimed to support e-mobility investments in the three South-Eastern European countries.

The German group entered Romania in 1993 and currently has approximately 15,000 employees in production units in Brașov, Hunedoara, Pitesti, Satu Mare and Timișoara. In 2021,  has allocated 200 million euros for the construction of a battery factory for electric vehicles in Timișoara, with investments for six years, according to the statement of the mayor of Timișoara, Dominic Fritz.