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The Japan Bank for International Cooperation (JBIC; Governor: HAYASHI Nobumitsu) signed today a loan agreement amounting to up to EUR42 million (JBIC portion) with TD Deutsche Klimakompressor GmbH (TDDK), a German subsidiary of Toyota Industries Corporation (Toyota Industries). The loan is co-financed with MUFG Bank, Ltd., bringing the total co-financing amount to EUR70 million.
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The loan is intended to provide the necessary funds for TDDK to manufacture and sell electric compressors for electrified vehicles
*1 in Germany.
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Electric compressors play a crucial role in the thermal management of electrified vehicles. Their functions, which have expanded, include regulating the cabin temperature and cooling electronic devices and batteries. As the demand for electric compressors is increasing in Europe due to the recent shift to electric vehicles, Toyota Industries has begun producing electric compressors at TDDK, its only European base for compressor manufacturing and sales. With this initiative, the company aims to expand its sales in the region. The loan will support Toyota Industries’ overseas business expansion, thereby contributing toward strengthening supply chain resilience and maintaining and improving the international competitiveness of the Japanese automobile industry.
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As Japan's policy-based financial institution, JBIC will continue to provide financial support to help with efforts to enhance the supply chain resilience of Japanese industries and assist Japanese companies in the overseas expansion of their businesses.
