EIB Funds Electric Vehicle Battery Research

10 January 2011: Philippe de Fontaine Vive, Vice-President of the European Investment Bank (EIB), and Vincent Bolloré, CEO of the Bolloré Group, signed a EUR 130 million finance contract in support of research, development and innovation programmes in the field of electricity storage (batteries and electric vehicles).

This loan will support the development of a new generation of lithium metal polymer (LMP) batteries providing a driving range of more than 250 km and ensuring the total safety of electric vehicles. This advanced technology will especially be employed in fixed and mobile applications for future high-performance, environmentally friendly electric vehicles producing no carbon dioxide emissions. [EIB Press Release]