• Dec 26th 2010 at 12:26PM
  • 2
Billionaire tycoon Vincent Bollore has committed to invest over 100 million euros ($131 million U.S. at the current exchange rate) into Autolib, Paris' electric carsharing program. The city's car-for-hire scheme is modeled after the successful, but often times problematic, Vélib bike-sharing program. Autolib is scheduled to kick off next fall and will allow area residents a chance to rent electric cars from one of the 700-plus soon-to-be installed stations.

Aside from investing a significant amount of coin into the program, Bollore will also supply Autolib with its electric Bluecar. All of Bollore's $131-million initial investment will not go directly into the Autolib program. In speaking at a recent news conference, Bollore stated that his company's investment will work out like this:
For us, Autolib is at least 100 million euros (of investment). We wrote 60 million (in the presentation), but 60 is the minimum, plus investments we make elsewhere.
Bollore doesn't expect to see a return on investment for at least seven years, but he remains confident that the Autolib project will be a success. If 100 million euros isn't confidence, we don't know what is.

[Source: Reuters | Image: Benh LIEU SONG – C.C. License 2.0]

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    • 1 Second Ago
      • 4 Years Ago
      Ah, the Bluecar. Another example of an EV that seemed so promising when it was introduced years ago but suffered endless delays ever since. I hope the ugly two door Renault Twingo lookalike in the Reuter article picture isn't the final production version of the original stylish looking five door prototype. If it is and Bolloré like everyone else in the EV business has trouble competing with the Nissan Leaf in terms of price, carshare programs may be the only way to shift them.
      • 4 Years Ago
      Its one way to ensure sales of potentially 700 for the Bolloré Blue Car.
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