Piaggio Group Gets €60 Million Credit Line for R&D and Production

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The Piaggio Group has gained access to a €60 million credit line from the Banca Monte dei Paschi di Siena and Cassa Depositi e Prestiti, which will fund the motorcycle conglomerate’s research, development, and innovation pursuits.

According to the company’s press release, the credit line from the two Italian banks will go into “active and passive” safety and sustainability project, such as vehicle emissions and fuel consumption for internal combustion engines.

The move is also designed to give liquidity to the Piaggio Group, and to allow the company to resume production in Italy for its two-wheeled brands.

This is part of a larger bigger movement by the Banca MPS and Cassa Depositi e Prestiti to provide liquidity and support the resumption of production activities in Italy, caused by the coronavirus outbreak.

Source: Piaggio