France has received an additional €75 million (£59.9 million) fund to support the development and operation of an open electric car-sharing service in Paris.

Provided by the European Investment Bank (EIB), the cash follows a previous loan of €130 million (£103.8 million) last year to support research, development and innovation in energy storage.

The new funding, which is part of the ‘Clean and energy-efficient vehicles’ initiative, will help the Bolloré Group with the deployment of an interconnected roadside recharging and parking network.

Philippe de Fontaine Vive, EIB’s Vice President said: “Our aim is to open access to clean, innovative and efficient cars. We support cutting-edge technologies as the spearhead for the future to ensure sustainable economic development and create jobs for young people.”