French billionaire Vincent Bollore, who leads the investment and industrial holding group Bollore Group, announced plans to invest $35 million in the U.S. His plans revolve around a car-sharing program for electric vehicles that also include the promotion of advanced batteries and services.
Bollore Group has its own brand called Bluecars, used in the Autolib car-share program in Paris. The conglomerate will create a BlueIndy service in Indianapolis, as the program is expected to begin within eight months. Close to 500 of Bollore’s Bluecars, along with 1,000 charging stations, will be in operation. The program needs at least 20,000 annual subscribers in order to stay active.
The Bollore Group makes its own lithium metal polymer batteries that serve their electric cars. Their arrival to the U.S. is adding to the rapid development of the electric car emerging segment led by Tesla Motors with the Model A sedan and the Nissan Leaf hatchback.
Bollore’s Bluecars can be rented for $10 an hour.
Read the full story at Automotive News.