New Vattenfall unit to grow EV charging business in NW Europe

BMW i3 charging. Author: Kārlis Dambrāns.

April 20 (Renewables Now) - Swedish utility Vattenfall said today it has created a new business unit in a drive to expand its electric vehicle (EV) charging network in Northwest Europe and become a leader in the field in the next five years.

The company already has 8,800 charging points at home, in Germany and in the Netherlands. It wants to grow also in markets such as the UK, France and Norway. The latter, actually, is a leader in EV adoption with an EV share in light-duty vehicle sales of roughly 40% in the latter months of 2017. This compared to just 1.8% in main markets, the Global Trends in Renewable Energy Investment 2018 report showed recently.

“From now on we expect our charging network to double in size every year in order meet a sharp increase in electric vehicle growth,” said the head of the new E-mobility unit, Tomas Bjoernsson. He added the company aims to reach SEK 1 billion (USD 119m/EUR 96.4m) in revenue in five years.

“We are continuously developing in order to meet requirements of the new energy landscape and the needs of our customers,” said CEO Magnus Hall. The new business unit has 60 employees already.

Vattenfall has launched a programme to electrify its own fleet of 3,500 vehicles. As part of it, it will use EVs or hybrid-cars by 2022.

More stories to explore
Share this story
About the author
Browse all articles from Tsvetomira Tsanova

Tsvet has been following the development of the global renewable energy industry for almost nine years. She's got a soft spot for emerging markets.

More articles by the author
5 / 5 free articles left this month
Get 5 more for free Sign up for Basic subscription
Get full access Sign up for Premium subscription