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Bollore to Quadruple London’s Electric-Car Charge Outlets

French billionaire Vincent Bollore is set to introduce an automotive version of London’s “Boris Bikes” short-term bicycle-rental program as he quadruples outlets in the U.K. capital for charging electric vehicles.

IER, the unit of the entrepreneur’s Bollore Group (BOL) that runs Paris’s Autolib auto-sharing service, will probably invest 100 million pounds ($166 million) in the Source London electric-car charging program that it will begin managing in mid-2014, Bollore said today at a press conference. The network will be expanded to 6,000 battery-charging sites by 2018 from about 1,400 currently, with a car-sharing component eventually to be added, the partners said in a statement.

Autolib was introduced in 2011, the year that Transport for London, which runs the U.K. capital’s subway and bus networks, began operating Source London with back-office help from German engineering company Siemens AG. (SIE) IER’s Source London investment will probably pay off in six to seven years because of potentially “more complicated” conditions than in Paris such as weather, while Autolib will be profitable in October or November, three years after its startup, Bollore said.
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