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MERCEDES TO LAUNCH VEHICLE-CHARGING NETWORK, STARTING IN NORTH AMERICA

Author of the article:

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Published Jan 05, 2023  •  1 minute read
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An electric vehicle recharges its battery. (Photo by Justin Sullivan/Getty
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BERLIN, Jan 5 (Reuters) –


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Mercedes-Benz is poised to invest billions of euros to build 10,000
fast-charging points in North America, Europe and China by 2030, the luxury
carmaker said on Thursday.


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ARTICLE CONTENT



The carmaker will commence construction in North America this year, targeting
2,500 charging points at 400 locations across most U.S. states and Canada by
2027, it said at the CES car show in Las Vegas which runs from Jan. 5-8.


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It will split just over one billion euros ($1.06 billion) in investment required
by 2030 for North America with Goldman Sachs spinoff MN8 Energy, a renewable
energy producer and battery storage operator, and is partnering with charging
network company ChargePoint for technological know-how.



MN8 Chief Executive Jon Yoder said the company expected to make a profit within
five to seven years, possibly earlier if it received subsidies or if utilization
rates are higher than expected.


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ARTICLE CONTENT



Discussions are ongoing with potential partners for the network buildout in
Europe and China.



The United States has around 140,000 public EV chargers, according to July 2022
data from the National Renewable Energy Laboratory.



Surveys show consumers around the world are discouraged from purchasing EVs
because of a dearth of charging infrastructure.


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ARTICLE CONTENT



In Europe, where Mercedes-Benz is already part of a charging joint venture with
Volkswagen, BMW, Ford and Hyundai called Ionity, infrastructure is further
along, with around 375,000 charging points available at the end of 2021,
according to a McKinsey Study.



Still, the region requires at least 3.4 million charging points by 2030 to meet
an expected rise in demand, the study said.



Separately, Mercedes-Benz has applied for certification in California and Nevada
for Level 3 automated driving, enabling its electric vehicles to take over
driving at up to 60 kilometers an hour on suitable motorway sections or in dense
traffic, the company also said at the CES car show.



($1 = 0.9429 euros) (Reporting by Victoria Waldersee Editing by Bernadette Baum)







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