Renault granted $544M loan to aid fuel-efficient vehicle development

The European Investment Bank (EIB) has granted Renault a 400 million euro ($544 million) loan to aid research and development of its next generation of affordable, environmentally friendly vehicles. Announced at the Renault Group�??s Boulogne-Billancourt head office in France, the loan will fund a major technological and environmental project through which resources will be