Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

BMW, Volkswagen join with ChargePoint to build EV fast-charging stations

Published 01/22/2015, 01:06 PM
Updated 01/22/2015, 01:06 PM
© Reuters. BMW badge is shown on the BMW X6M during the model's world debut at the Los Angeles Auto Show

By Paul Lienert

DETROIT (Reuters) - German automakers BMW and Volkswagen (DE:VOWG_p) are joining with ChargePoint to build a U.S. network of fast-charging stations for electric cars and plug-in hybrid vehicles, the companies said Thursday.

The companies plan to install nearly 100 ChargePoint ports on the U.S. East and West Coasts by the end of 2015 as part of an effort to promote greater sales of EVs such as the BMW i3 and the VW e-Golf.

ChargePoint operates one of the leading EV charging networks, with more than 20,000 charging ports in North America.

Tom Gage, chairman of EV Grid and an expert in electric vehicle charging infrastructure, said BMW and VW were among the largest vehicle manufacturers to help fund development of the U.S. charging network.

"Most people will rarely use it, but knowing it is there seems to remove a big purchase barrier" for electric vehicles, said Gage. Many EVs have relatively short driving ranges of less than 100 miles between charges.

The BMW/VW endeavor follows the establishment by California-based electric car maker Tesla Motors Inc of an extensive network of fast-charging stations for its battery-powered Model S sedan.

Tesla's Supercharger network, where Model S owners can quickly recharge their cars for free, now has nearly 2,000 ports at more than 350 stations around the world, including 160 in the United States and Canada. The Supercharger port uses a proprietary design that only works with Tesla cars.

The ChargePoint network offers several kinds of ports that will accept SAE Combo connectors - an industry standard type used on the i3 and the e-Golf - as well as the CHAdeMO connector used on the Nissan Leaf. The stations will also have Level 2 chargers, which can recharge most EVs at a much slower rate.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

BMW and VW said the ChargePoint DC Fast ports will be able to recharge an i3 or an e-Golf up to 80 percent in 20 to 30 minutes.

To access the ChargePoint network, owners need a special card or a ChargePoint smartphone app. BMW and VW owners are automatically enrolled.

VW and BMW are making equal investments in the ChargePoint venture, but the automakers declined to disclose financial details.

Latest comments

REALLY?????? I thought we only had this problem with mobile charging.. Now We'll have to look for the right station for the cars as well?
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.