The European Investment Bank (EIB) has awarded Bollore 75 million euros ($97 million) to fund the expansion of its AutoLib electric car sharing scheme in Paris.
The AutoLib funding follows an initial 130 million euro loan the EIB granted Bollore to support the research, development and innovation process.
The new funding will go towards:
– Deployment of an interconnected roadside and recharging/parking network
– Research, development and innovation of subscription, billing, recharging and fleet-management systems
This new loan will help Groupe Bollore 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 favor of innovation and research/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.” As for company CEO Vincent Bollore: “This new EIB loan…will allow us to develop new innovations and applications in the strategically important area of electrical storage.”