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

  • IBTTA: road user charge is the future
    March 16, 2022
    The US government’s cash injection for the nation’s bridges represents a step forward – but IBTTA’s Pat Jones suggests that states need to consider the benefits of road usage charging
    Read More
  • ITS solutions to keep truck traffic moving
    June 8, 2015
    David Crawford reviews freight management initiatives. Managing truck traffic to minimise its environmental impacts, without adversely impacting on its critical economic role, continues to drive ITS-based solutions in both urban and interurban contexts.
    Read More
  • Internet-connected cars their functionality and safety challenges
    February 27, 2013
    Internet-connected cars are poised to flood the market in the near future. Pete Goldin considers the functionality they offer, the technology they use and the challenge they represent in terms of driver safety. Many vehicles on the road today offer some sort of inter­net connectivity and experts agree that this capability will become a competi­tive differentiator in the automotive industry in the next few years. The era of the digital vehicle, it seems, has started. “We clearly see that cars in the near f
    Read More
  • Monitoring and transparency preserve enforcement's reputation
    July 30, 2012
    What can be done to preserve automated enforcement's reputation in the face of media and public criticism? Here, system manufacturers and suppliers talk about what they think are the most appropriate business models. Recent events in Italy only served to once again to push automated enforcement into the media spotlight. At the heart of the matter were the numerous alleged instances of local authorities and their contract suppliers of enforcement services colluding to illegally shorten amber signal phase tim
    Read More

Highlighted Content