Vattenfall Aiming To Become Northwestern Europe’s Top EV Charging Station Operator
The Sweden-based utility giant Vattenfall is now aiming to become the top operator of plug-in electric vehicle charging stations over the next 5 or so years, company execs have revealed.
To put that a different way, the Swedish firm is apparently targeting “turnover for the business of 1 billion crowns ($119 million)” within 5 years — with the idea being that the plug-in electric vehicle (EV) market will grow rapidly over the coming years.
Vattenfall, it should be noted, already owns and operates plug-in electric vehicle charging infrastructure in Sweden, the Netherlands, and Germany. The plan, though, is now to expand further — into the markets of Norway, France, and the UK.
“From now on we expect our charging network to double in size every year in order (to) meet a sharp increase in electric vehicle growth,” a statement from the company read.
Reuters provides some context here: “Power utilities such as Vattenfall, but also tech start-ups and oil majors are fighting to establish themselves as the dominant players in this fast-growing business. Among players vying to take control before the sector takes off are French utility Engie, Germany’s Innogy, ChargePoint whose owners include BMW, Daimler, and Siemens. Vattenfall’s Finnish rival Fortum has also made several acquisitions to compete in the sector.”
On that note it’s probably worth remembering that the plug-in electric vehicle markets in Norway, the Netherlands, and the UK represent some of the largest in the world, so Vattenfall’s expansion plans there are highly important to the achievement of the goals discussed above. There’s already some completion in the charging sectors in those countries, though, with Fastned being a particularly notable firm that we cover often.
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