Bollore’s E-Car Venture Leaves Investors on Side of Road
- Shares of French billionaire’s battery business have plunged
- Analysts see no recovery; future shape of company is uncertain
Vincent Bollore.
Photographer: Marlene Awaad/BloombergThis article is for subscribers only.
French billionaire Vincent Bollore’s push into electric vehicles has been a huge success, at least in terms of publicity and eye-catching contracts. For investors, it hasn’t worked out so well.
Shares of his battery company, Blue Solutions SA, have plunged by more than two thirds since peaking 2 1/2 years ago, wiping out 775 million euros ($823.5 million) of shareholder value. They now fetch less than they sold for in the Quimper, France-based company’s initial public offering in 2013.