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

  • Valuing ITS
    February 6, 2012
    Politicians, policy- and decision-makers need no-nonsense, non-technical answers on which to base investments in ITS. The International Benefits, Evaluation and Costs (IBEC) Working Group can provide them, says its Chair, Richard Harris
    Read More
  • Valuing ITS
    February 2, 2012
    Politicians, policy- and decision-makers need no-nonsense, non-technical answers on which to base investments in ITS. The International Benefits, Evaluation and Costs (IBEC) Working Group can provide them, says its Chair, Richard Harris
    Read More
  • Transport problems need ''strong action from policymakers”
    June 7, 2012
    Taking advantage of the attendance of the heads of ITS Asia-Pacific, ITS America, Ertico – ITS Europe, and ITS Malaysia as the host nation of the recent 12th ITS Asia-Pacific Forum in Kuala Lumpur in April, ITS International initiated a round table discussion on the big ITS issues confronting the individual regions. For such a diverse collection of advanced and emerging nations spanning the globe, in terms of the advancement of ITS, a common single issue emerges above all others
    Read More
  • ITS investment on upward curve
    August 17, 2022
    More money is coming into the ITS sector – but where is it likely to go next? And what are the pros and cons of all this cash? Adam Hill talks to ITS veteran and corporate investment adviser Greg McKhann
    Read More

Highlighted Content