EIB to provide €150 million to Austrian automotive supplier ZKW Group

In recent years, ZKW significantly shaped the industry through a series of innovations such as the first laser headlights in series production.

The European Investment Bank (EIB) will provide €150 million to Austrian ZKW Group GmbH. ZKW is a leading automotive supplier that develops and manufactures innovative premium lighting systems and electronic modules. In recent years, ZKW significantly shaped the industry through a series of innovations such as the first laser headlights in series production. The fresh funds from the EU bank will be used for ZKW´s investments in Research, Development and Innovation (RDI) in the field of innovative automotive lighting systems carried out in Austria and Slovakia. In addition, ZKW aims to invest in state-of-the-art machinery and equipment for its manufacturing site located in Slovakia.

EIB Vice-President Thomas Östros: “ZKW experienced rapid growth over the past decade through a series of innovations. For the EIB, the bank of the European Union, innovation is key to economic growth and employment. It drives prosperity and the EU’s competitiveness. I therefore very much welcome our new cooperation, in particular with a company, that managed to build up its leading position in the automotive lighting industry through new technologies, which are recognised and used by international premium brands in the car industry.”

ZKW CEO Oliver Schubert explained the strategic plans of ZKW: “With the funds of the European Investment Bank, ZKW will be able to further expand the innovation activities, which are key to success, with a higher budget for research and development. In addition, ZKW will invest in sustainable production and green development. Therefore ZKW has already invested and will further invest in energy-efficient machinery in the Slovakian plant in Krusovce. In addition, ZKW can strengthen the business environment in Europe, which is a huge benefit not only in cost savings but also for generating new jobs. Furthermore, ZKW aims to have green finance, as a seal of quality for a green company. We appreciate the funds of the Bank of the European Union as a seal of quality for our company. We are aware that only high-ranking companies can work together with the EIB. It is an honour to be named with European innovation market leaders.“