Leading automakers will Finance the construction of charging stations in Europe to stimulate demand for electric vehicles

The success of Tesla makes automakers pay more attention to the promising market for electric vehicles. According to the source, leading German car manufacturers agreed to jointly Fund the construction of thousands of fast charging stations in Europe, hoping that this will boost demand for electric vehicles.

The project involved the company VW with their Audi and Porsche brands, as well as BMW, Daimler and the European branch of Ford. They intend to create a joint venture, which will start deploying a network of charging stations in the next year. The first stage includes the creation of approximately 400 stations, and by 2020, their account will go on thousand.

The charging stations in question, shall be a combined charging (CCS) that is superior to existing solutions in the speed of charging and can power up to 350 W∙h

The project participants were invited to participate from other manufacturers.

Source: Reuters

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