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

  • First EV fast charging points operational in France
    June 1, 2015
    Two electric vehicle (EV) charging points have gone into service as part of the Corri-Door project, which benefits from almost US$6.5 million funding under the EU TEN-T Programme. The aim of the Corri-Door project is to enable an interoperable fast charging network and foster rapid electric vehicle deployment in France and in Europe. The two first fast charging points went service in the Bosgouet Nord rest area on the A13, 128 kilometres from Paris and Tardenois Nord rest area on the A4, 97 kilometres f
    Read More
  • Need to analyse risks of 5.9GHz spectrum sharing
    February 27, 2013
    Scott Belcher of ITS America explains why moves towards spectrum sharing in the 5.9GHz band should not be allowed to proceed until further analysis of the risks to road safety has been undertaken. The ability to move people and goods safely and efficiently has always had a direct impact on a country’s economic advantage and its citizens’ quality of life. It is estimated that by 2050, the number of vehicles around the world is set to double to two billion, placing enormous demands on the global transport
    Read More
  • ITS asset management matters
    April 26, 2013
    Maintenance of on-road ITS kit needs to become more sophisticated; while new technologies can deliver better road maintenance. David Crawford investigates both sides of the issue "Good information is key to effective ITS asset maintenance,” says Ian Routledge of the Ian Routledge Consultancy (IRC), whose Imtrac (Information Management for TRAffic Control) system is poised for European expansion. Developed as an ‘intelligent filing cabinet’ for storing information about on-road equipment, the online database
    Read More
  • European single transport ticketing project reports latest results
    April 18, 2016
    The latest developments and results from the four pilot trials being run under the European R&D&i project, MobiWallet, led by Indra, will be presented today at the sixth European Transport Research Arena Conference in Warsaw, Poland. MobiWallet aims to improve transport in Europe by allowing the combined use of public and private transport, as well as additional services to make for better mobility and render transport smarter and more sustainable. In addition to offering integrated payments for all adde
    Read More

Highlighted Content