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

  • San Diego: Let there be (street)light
    March 30, 2020
    The influence of intelligent streetlights is spreading. David Crawford finds that San Diego’s deployment – and attendant legislation – may offer a blueprint for other cities going forward
    Read More
  • European bus system of the future: paving the way for a bus revolution
    October 16, 2012
    The results of the US$33.8 million (€26 million) European Bus System of the Future (EBSF) project have been announced following four years of intensive research and high-profile work. The project, which started in the midst of the financial crisis in 2008 and achieved several key results, aimed to develop a new generation of urban bus systems adapted to the needs of European cities as well as improving the perception of bus transport. By defining the bus system as a whole, rather than looking just at the v
    Read More
  • ITS industry in the US has grown to $48 billion and will expand
    April 17, 2012
    ITS America has released what it says is the most comprehensive study to date on the scope of the ITS industry in the United States and North America. Researchers found intelligent transportation to be a fast growing sector valued at approximately US$48 billion. Results indicate that cities and states with drastically reduced budgets are turning to technology solutions to maximize existing highway capacity.
    Read More
  • Paris metro world first inaugurated today
    March 23, 2012
    Pierre Mongin, chairman and CEO of RATP has today inaugurated the commissioning of the first automatic trains on Line 1 of the Paris metro in the presence of Nathalie Kosciusko-Morizet, minister for ecology, sustainable development, transportation and housing and Jean-Paul Huchon, president of the regional council of Île-de-France.
    Read More

Highlighted Content