VW, BP to Invest in Europe Car-Charging Network: Manager Magazin
Volkswagen AG, BP Plc and the oil company’s German gas station brand Aral are planning to invest in an electric-car charging network in Europe, Germany’s Manager Magazin reported.
Details are likely to be announced Monday at VW’s Power Day event in Wolfsburg, the magazine said, citing people it didn’t identify. The plans involve more than 1,000 charging stations in cities and near highways. VW declined to comment to Manager Magazin.
Europe’s sluggish expansion of vehicle charging infrastructure has already prompted a separate joint venture between VW and other carmakers to ramp up their network. EV sales in the region tripled last year, and the companies fear long lines at charging points could put off potential buyers.
BP, and other European oil companies, are also investing more to pivot toward cleaner forms of energy. BP is rolling out ultra-fast charging points in the U.K. and plans to expand in Germany.
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