Paris — The European Investment Bank (EIB) has asked French investigators to find out whether €800m of EU-backed loans to Renault could have been used to develop test-cheating diesel engines, according to documents seen by Reuters. The EU lending arm wrote to judges leading a fraud investigation into preliminary findings that Renault’s diesel engines, like Volkswagen’s (VW’s), had been configured to manipulate nitrogen oxide (NOx) emissions tests. Renault, which has consistently denied breaking any laws or emissions rules, had no immediate comment on Friday. The Paris prosecutor’s office did not respond to requests for comment. Since 2009, the EIB has granted more than €8bn in preferential loans to back development of vehicles with lower carbon dioxide (CO²) emissions by car makers including VW, exposed in 2015 for using software "defeat devices" to dupe US regulatory tests. Technologies funded by the EIB have included diesel engines, because they emit less CO² than petrol equivalen...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.