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Volvo Cars teams up with Starbucks for pilot EV charging network

Published 03/15/2022, 12:32 PM
Updated 03/15/2022, 02:26 PM
© Reuters. FILE PHOTO: The logo of Volvo is seen at a Volvo showroom in Mexico City, Mexico April 6, 2018. REUTERS/Gustavo Graf
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(Reuters) - Volvo Cars U.S. said on Tuesday it was partnering with coffee giant Starbucks Corp (NASDAQ:SBUX) to create a public electric vehicle (EV) charging network that is set to begin this summer.

The Swedish automaker maker said that its pilot installations would include as many as 60 Volvo-branded ChargePoint DC fast chargers at up to 15 Starbucks store locations.

Volvo, which plans to have a charger installed at every 100 miles, said it expects the installations to be completed by the end of 2022. The charging stations could be used by all EV drivers for a fee. However, Volvo car owners could use these at no charge or at preferential rates.

The move comes as automakers race to overtake EV maker Tesla (NASDAQ:TSLA) Inc, with Ford Motor (NYSE:F) Co on Monday unveiling plans for seven new electric models that it plans to launch in Europe.

© Reuters. FILE PHOTO: The logo of Volvo is seen at a Volvo showroom in Mexico City, Mexico April 6, 2018. REUTERS/Gustavo Graf

Volvo Cars, which is primarily owned by China's Geely Holding, aims to sell 50% pure electric cars by the middle of this decade and fully electric cars by 2030.

The Biden administration last month also unveiled its plan to award nearly $5 billion over five years to build thousands of electric vehicle charging stations to help combat this issue.

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