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

  • March 17, 2017
    Better websites build smarter transport participation
    Transport initiatives are gaining traction through well-designed websites. Four European smart transport-oriented websites have gained honours in the 2016 .eu Web Awards, an online competition inaugurated in 2014 to recognise the most impressive sites within the .eu internet domain in terms of their design and content. The four were among 15 finalists across all five categories of the scheme, giving the transport sector a high profile for its proactive use of sites as communications tools for driving major
    Read More
  • May 20, 2014
    World Economic Forum report: how to accelerate infrastructure delivery
    A new report from the World Economic Forum, Accelerating Infrastructure Delivery: New Evidence from International Financial Institutions, examines how the experience of international financial institutions (IFIs) can help bridge the growing infrastructure deficit. To accelerate economic growth, global levels of installed infrastructure, which currently stand at around US$45 trillion, need to grow to nearly US$100 trillion by 2030. To achieve this, governments need to increase public sector spending as a
    Read More
  • December 14, 2012
    Car to car communications a step closer
    Vehicle manufacturers have targeted 2015 for the first cars to roll off European assembly lines fitted with operational V2X technology. They and their partners in the Car 2 Car Communications Consortium are confident of meeting the target, reports Jon Masters. Around three years from now vehicles should be appearing in showrooms boasting the capability of communicating with each other. Manufacturers will have started fitting the first proprietary car-to-car driver-aid safety devices and deployment of ‘vehic
    Read More
  • January 14, 2020
    Future of tolling: the priorities
    In the final part of his investigation into the future of tolling technology, Josef Czako of Moving Forward Consulting asks what industry figures see as the priorities going forward…
    Read More

Highlighted Content