BMW Taps KfW-IPEX, DZ Bank Loans to Cut Emissions From Car Paintby
Carmaker's Munich plant rolls out about 1,000 cars a day
BMW qualified for IPEX climate protection loan facility
German carmaker BMW AG tapped 162 million euros ($177 million) in loans from export credit bank KfW-IPEX and DZ Bank to cut harmful emissions from its vehicle paint line at its Munich factory.
When finished, the new line will cut in half the amount of natural gas used in the painting process and reduce electricity consumption by a quarter, Frankfurt-based IPEX said Wednesday. The two banks will split the loan for the technology, which BMW has already installed at factories in China as well as in Oxford, England, and in Spartanburg, South Carolina.
BMW is investing more than 500 million euros in modernizing its Munich plant, said IPEX. By planning a cut of more than 30 percent in energy inputs, the new paint line qualified for loans from the bank’s “premium standard” climate-protection facility.
“IPEX isn’t just synonymous with export credit,” said IPEX spokeswoman Dela Strumpf in an interview. BMW’s paint line is “German-made technology and comports with the bank’s support for climate-protection lending.”
BMW’s Munich site produces about 1,000 new cars a day, half of them 3-Series vehicles, according to its web site