Vattenfall set up a new business unit (60 people) focused on the electric vehicle charging infrastructure to become a leader in Northwest Europe within five years.
Vattenfall charging network
Currently, the company operates some 8,800 charging points in Sweden, the Netherlands and Germany.
The next step is the gradual expansion of charging solutions for home, business and public charging to other markets like UK, France and Norway.
Charging infrastructure is part of the SEK 3 billion (over $350 million) investment, which includes energy storage systems.
Five years from now, the charging business is expected to generate turnover of SEK 1 billion (some $120 million).
In 2017, Vattenfall announced purchase of 3,500 all-electric or plug-in hybrid cars by 2022.
Magnus Hall, Vattenfall's CEO said:
"We are continuously developing in order to meet requirements of the new energy landscape and the needs of our customers. Electric vehicles are increasingly popular, thus increasing the need for easy charging solutions. This is the key driver for us and our partners and with the new unit we are putting force behind our ambition to build one of Northwest Europe’s biggest charging networks."
Tomas Björnsson, Head of Vattenfall's E-mobility business unit said:
"From now on we expect our charging network to double in size every year in order meet a sharp increase in electric vehicle growth. We aim for a turnover of SEK 1 billion within five years."