Following the success of electric-vehicle rival Tesla, a joint-venture of the world's top auto makers have agreed to invest into thousands of fast-charging sites across major critical highways in Europe. Recognizing that the key to overcoming Electric Vehicles (EV) consumers' fears of running out of power are charging stations, the joint venture will capitalize on that need for electric vehicles to gain widespread acceptance.
The ambitious collaboration was announced recently by Ford's European Division and German rivals Volkswagen Group, Daimler AG and BMW Group. Part of Volkswagen's group Audi and Porsche are expected to join the venture. The anticipated increase of plug-in electric cars has spurred on the venture, according to hybridCARS.
A memorandum of understanding for the joint venture was reached last week and the major car manufacturers have agreed to initially invest in 400 ultra-fast charging, 350kW sites along critical highways in Europe. Figures on the total investment have yet to be released. The decision for the venture came in the wake of the announcement by the German government that it is willing to help with electric car subsidies, as stated in a report by The Globe And Mail.
While it's not yet known how the incoming administration of Donald Trump will support the project, the German government has been pressuring its automakers to hasten the progress and release of electric cars. German Economics Minister, Sigmar Gabriel, has called for Germany to lead the EV technology. He is expected to challenge Angela Merkel in the elections and promised to hasten the EV program if he wins.
Insufficient charging points as well as higher prices for electric vehicles have been seen as the cause for low demand despite incentives and assurances from the government. The joint venture's aim for availability of fast-charging power stations along major highways will help convince customers to consider buying electric vehicles.
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