European Investment Bank supports electric cars in France

The European Investment bank is to lend a total of US$265 million to support the research, development and deployment of an electric-car sharing service in Paris, France. Following a loan of US$168 million to Groupe Bolloré in 2011 to support the research, development and innovation process, further financing of US$75 million was recently agreed to help fund new services and will go towards: deployment of an interconnected roadside and recharging/parking network; research, development and innovation of subs
October 15, 2012 Read time: 2 mins
The 4270 European Investment Bank is to lend a total of US$265 million to support the research, development and deployment of an electric-car sharing service in Paris, France.  

Following a loan of US$168 million to 6716 Groupe Bollore in 2011 to support the research, development and innovation process, further financing of US$75 million was recently agreed to help fund new services and will go towards: deployment of an interconnected roadside and recharging/parking network; research, development and innovation of subscription, billing, recharging and fleet-management systems.

Groupe Bolloré say the new loan will help add to the success of its existing electric car service in Paris: 1,750 electric vehicles using 710 recharging/parking stations for the benefit of 38,800 users.

"This demonstrates our firm commitment in favour of innovation and research and development” said Philippe de Fontaine Vive, EIB Vice President."We are supporting cutting edge technology because this is the key to sustainable economic development and job creation for young people. Company CEO Vincent Bolloré, says, "This new EIB loan will allow us to develop new innovations and applications in the strategically important area of electrical storage.

Related Content

  • July 15, 2016
    EBRD finances road repairs and upgrades in Eastern Europe
    The European Bank for Reconstruction and Development (EBRD) is providing a sovereign loan of up to US$86 million (€65 million) to Bosnia and Herzegovina to support an infrastructure programme aimed at repairing and upgrading the country’s road network, which has been damaged by severe floods in recent years. The improvements to the network will support regional connectivity, making it easier for domestic companies to transport their products to local and regional customers. Supporting regional integratio
    Read More
  • June 25, 2015
    Public transportation has paid off for Salt Lake City region, study shows
    A public transportation technology partnership between Salt Lake City and Siemens in the US has resulted in 1,300 new jobs that have spurred an estimated $225 million in value to the local economy, according to a study conducted by the Economic Development Research Group, a Boston-based research company Siemens hired to assess the economic impact of the project. Since 1996, Siemens has manufactured and delivered 117 light rail vehicles for UTA’s TRAX light rail streetcar lines. The company is building t
    Read More
  • April 11, 2019
    New York mayor to reduce city’s vehicle fleet
    New York’s mayor Bill de Blasio has signed an executive order to reduce the city’s on-road public sector vehicle fleet. The move is part of a commitment to reduce emissions by 80% by 2050. The city will remove 1,000 vehicles from its fleet by June 2021 and reduce the number of take-home vehicles by at least 500. Additionally, it will replace at least 350 SUVs with electric plug-in sedans and promote greater vehicle efficiency by using advanced data collection. “Eliminating unnecessary vehicles fro
    Read More
  • June 29, 2017
    EU proposes to spend €2.7 billion for 152 transport projects
    The European Commission is proposing to invest US$3 billion (€2.7 billion) in 152 key transport projects that support competitive, clean and connected mobility in Europe.
    Read More

Highlighted Content