Car Makers Form Joint Venture for European E-Mobility Charging Network
03 November 2017 - 7:13PM
Dow Jones News
By Max Bernhard
A newly formed joint venture between four car makers said Friday
that it will build a network of charging stations for electric
vehicles across Europe.
Volkswagen AG (VOW.XE), Daimler AG (DAI.XE), Bayerische Motoren
Werke AG (BMW.XE) and Ford Motor Co. (F) said that the joint
venture, called Ionity, will build around 400 fast-charging
stations on major European thoroughfares by 2020. The companies
have equal shares in the joint venture and other auto manufacturers
are invited to help expand the network, they said.
The companies didn't disclose any financial details.
The joint venture will develop and build a high-power charging
network for electrically powered vehicle, with up to 20 charging
stations to be opened in 2017 on major roads in Germany, Norway and
Austria.
The charging points will be created in partnership with gas
station operators Autobahn Tank & Rast GmbH, Alimentation
Couche-Tard Inc.'s (ATD.A.T) subsidiary Circle K and OMV AG
(OMV.VI).
Write to Max Bernhard at Max.Bernhard@dowjones.com;
@mxbernhard
(END) Dow Jones Newswires
November 03, 2017 03:58 ET (07:58 GMT)
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