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

  • April 26, 2018
    Canadian government invests in electric bus infrastructure
    The government of Canada will invest CAN1.2m into the South Coast British Columbia Transportation Authority’s (TransLink’s) demonstration project to install overhead charging stations for electric buses in Vancouver. The fund follows a commitment to support initiatives that provide citizens with more options for clean driving. Bus manufacturers New Flyer Industries and Nova Bus will develop the electric transit buses while ABB and Siemens will develop the chargers. These companies will also evaluate the
    Read More
  • April 26, 2018
    Canadian government invests in electric bus infrastructure
    The government of Canada will invest CAN$1.2m into the South Coast British Columbia Transportation Authority’s (TransLink’s) demonstration project to install overhead charging stations for electric buses in Vancouver. The funding follows a commitment to support initiatives that provide citizens with more options for environmentally-friendly driving. Bus manufacturers New Flyer Industries and Nova Bus will develop the electric transit buses while ABB and Siemens will develop the chargers. These companies
    Read More
  • February 3, 2012
    Connecting people and mobility
    Stéphane Petti, Business Development Manager - Automotive, at Orange Business Services' International M2M Center, says that the ITS industry can no longer afford to ignore the telecommunications industry's role in connecting people and mobility services. To telephone companies (telcos), the Machine-to-Machine (M2M) sector is nothing new. Worldwide, they have been focusing considerable attention on M2M in all its sub-segments for several years now. It is the migration of M2M from fixed to wireless connectivi
    Read More
  • November 4, 2019
    European Bank presents transport funding plan to 2024
    The European Bank for Reconstruction and Development (EBRD) is setting out its new transport development plan for the coming five years.
    Read More

Highlighted Content