France is funding an effort to deploy 10,000 EV chargers

PARIS: A unit of France’s national development bank said on Monday it had teamed up with an electric car charger operator to finance the deployment of nearly 10,000 points for businesses changing their fleets. The Banque des Territoires, a subsidiary of France’s Caisse des Depots, said it will form a joint venture with Bump that will receive an investment of 100 million euros ($108 million) to help companies transition to electric vehicles. Installing charging stations requires significant investment for companies considering converting their fleets to electric. The partnership would fund the installation of Bump charging stations in company premises with companies only paying for their use.

The first beneficiaries of the financing for EV chargers will be the logistics company DPD, as well as the supermarket chains U and Monoprix. Bump also gives companies access to more than 100,000 charging stations across France, including toll booths and parking garages. “This partnership with Caisse des Depots represents a major development in our mission to support companies in the sustainable evolution of their professional vehicles,” Bump chief executive Francois Oudot said.

Bump aims to become a leader in corporate payment terminals, as well as those deployed by retail chains for their customers’ use, by installing 25,000 by 2030. French state-owned electricity company EDF announced in February that it had merged with infrastructure company Morrison to build around 8,000 fast charging stations in public parking areas between now and 2030. That would almost double the estimated 9,500 fast charging stations currently in use in France. – AFP