The European Bank for Reconstruction and Development (EBRD) said it is lending up to 75 million euro ($80.1 million) to German automotive components manufacturer Draexlmaier Group for investments in electric mobility and general capital expenditures in three countries of Southeast Europe - Romania, North Macedonia and Moldova, IPN reports, with reference to SEENews.com.

Dräxlmaier made its first investment in Moldova in 2007, when the first wiring harness production hall with about 300 employees was opened in Chisinau. Currently, over 5,000 employees work at the three factories in Balti, Cahul and Chisinau. The production is delivered to Audi, BMW, Jaguar, Land Rover, Maserati, Mercedes-Benz, MINI, Porsche, Rolls-Royce, and VW.

The senior unsecured loan will support the expansion of Draexlmaier’s production capacity in Romania for high-voltage harnesses and battery systems for electric vehicles.

Draexlmeier will introduce new training programs on emerging technical skills and apprenticeship programs in collaboration with local universities to support workforce readiness and inclusivity in the region, IPN informs.