“As a high-tech manufacturer with electric vehicle systems as one of its business areas, the Elinta Group is developing a sustainable business, so this investment will help a company with tangible added value to increase liquidity and further develop environmentally friendly technologies,” says SEB Bank’s Board Member and Retailer. head of the banking department Eglė Dovbyšienė.
According to her, despite the geopolitical challenges, the business sector in which Elinta Motors operates is really promising in terms of sustainability and with a view to gradually minimizing carbon emissions. SEB Bank, when providing business loans, considers sustainability to be a particularly important indicator in assessing companies’ performance and prospects.
Earlier this year in Lithuania a total of 5,045 net electric cars and 3,210 externally chargeable hybrid cars were registered. Although the number seems small, it has doubled in recent years. In Europe, the growth trend is very strong, with the number of electric cars projected to increase by around 10 times. It is probable that in 2030 in Lithuania already 20 percent. cars will be electric, so that growth should be more than 20 times.
“We have been trusting SEB Bank as a financial partner for more than twenty years. During this time, we have expanded and improved significantly in various areas of business. Now, due to the rapidly growing production volume, the growth of the company Elinta Motors requires investments in both production space and equipment, as well as in working capital. SEB Bank financed the purchase of the premises and part of the additional working capital requirement, and the loan repayment term is postponed for one year in order to invest in equipment. I am glad when the bank understands not only the business of buying and selling, but also the complex business of creating new technologies for the future, ”says the CEO of UAB Elinta. Vytautas Jokužis.
According to him, the new production building will enable Elinta Motors to start serial production of electric vehicle power systems. It is planned to produce up to 2 thousand units per year.
This loan helped the Elinta group to acquire Kaunas FEZ, Terminalo Street, a production building with administrative premises. The term of the loan granted by SEB bankas is five years.
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