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.

For more information on companies in this article

Related Content

  • Home based real time travel information drives reduction in car use
    January 20, 2012
    David Crawford investigates a new approach to discouraging car use - the 'kitchen as travel centre'. ITS technology working together with UK planning legislation is driving an innovative 'kitchen as travel centre' approach to home design which is boosting public transport as an alternative to car use. The combination is already proving powerful enough to assuage environmentalist opposition to major urban developments. It is also being seen as a way of delivering wider social and community benefits inside an
    Read More
  • EU triples funding for rail innovation
    December 18, 2013
    The European Commission has adopted Shift2Rail, a new public-private partnership to invest around US$1.3 billion in research and innovation to get more passengers and freight onto Europe's railways. Rail is amongst the most efficient and climate-friendly forms of transport, but currently it only carries about only 10 per cent of European cargo and 6 per cent of passengers each year. Shift2Rail is an ambitious public-private partnership which will manage a seven-year work programme of targeted research an
    Read More
  • Dott and Tier announce merger - but will keep own brands
    January 11, 2024
    Companies operate primarily in Europe and have combined revenues of €250m
    Read More
  • EU releases funds to improve European transport connections
    September 12, 2014
    The European Commission has released US$15.3 billion of EU funding to improve European transport connections and invited Member States to propose suitable projects to use the funding. Proposals must be submitted by 26 February 2015. EU financing for transport has tripled to US$33.6 billion for the period 2014-2020, compared to US$10.3 billion for 2007-2013, under the new Connecting Europe Facility (CEF). This is the first tranche of the new funding for transport to be made available. The funding will
    Read More

Highlighted Content