HomeSmart Grid T&DEV InfrastructureVattenfall aims at becoming key player in EV charging

Vattenfall aims at becoming key player in EV charging

Vattenfall has announced plans aimed at growing the company’s capability in electric vehicle charging, specifically becoming a dominant player in northwest Europe.

The Swedish company said in a statement it targeted turnover for the business of $119m, then, banking on the growing need for charging points for electric cars.
With Tesla, Porsche and BMW growing sales of their battery-powered cars, and with other car firms planning to speed up their shifts to EVs, the battle over where Europeans charge them is intensifying.

Across a spectrum, varying from tech start-ups to oil majors, there is great interest in exerting a dominant role in the new and growing sector.

French utility Engie, Germany’s Innogy , ChargePoint whose owners include BMW, Daimler and Siemens are all trying to maximize their potential in the area through early adoption.

Vattenfall’s Finnish rival Fortum has also made several acquisitions to compete in the sector.

State-owned Vattenfall, which already operates home, business and public charging solutions in Sweden, Germany and the Netherlands, said the business now planned to enter new markets including Britain, France and Norway.

“From now on we expect our charging network to double in size every year in order meet a sharp increase in electric vehicle growth,” it said.

Norway has the largest electric car penetration globally, followed by the Netherlands and Sweden.à‚