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Four of the world’s top carmakers have agreed to invest in thousands of fast-charging sites across Europe to boost mainstream acceptance of electric cars, the companies said on Tuesday.

Spurred by the success of U.S. rival Tesla, which has received huge pre-orders for its Model 3 car, German rivals Volkswagen, Daimler’s Mercedes, BMW an Ford Motor Co’s European division have entered a joint venture to develop 400 charging stations.

Overcoming “range anxiety,” the fear of running out of power before reaching a charging station, is key to widespread consumer acceptance of electric vehicles, which so far have filled only a niche market.

Figures on the total investment were not released.

A memorandum of understanding for the JV was reached late last week.

Government regulators have also been pushing electric vehicle infrastructure projects.

In the United States, it remains to be seen how an administration of Donald Trump will embrace such projects. The White House earlier this month, and a week before the presidential election, announced efforts to spur development of EV charging infrastructure.

After the German government agreed to help the auto industry with electric car subsidies, pressure has built for Germany’s carmakers to accelerate the development and rollout of electric car infrastructure.

German Economics Minister Sigmar Gabriel, a potential challenger to Angela Merkel in 2017, has called for Germany to become a leader in electric vehicle technology.

Electric vehicle infrastructure will also get a boost from Volkswagen’s diesel emissions settlement, which calls for investment in EVs, and Daimler recently announced investing 10 billion euros ($11 billion) in EVs.

Scarce charging points, as well as higher prices for electric cars compared with combustion models, have stifled mass-market demand despite sales incentives that often include government assistance.

“The availability of high-power stations allows long-distance electric mobility for the first time and will convince more and more customers to opt for an electric vehicle,” Daimler Chief Executive Dieter Zetsche said.

A goal is to make charging an electric vehicle as convenient as refuelling at conventional gas stations, the automakers said in a statement issued on Tuesday.

Executives across the industry predict electric cars will become increasingly popular due to advances that make batteries cheaper and more powerful. Also, the VW emissions scandal has sparked a regulatory backlash against diesel-engine vehicles.

Diesel-powered vehicles accounted for 52 percent of new passenger cars sold in Europe last year, although they are a small fragment of the U.S. market.

The joint venture, which is open to other automakers, is to fund the establishment of charging sites beginning in the first quarter of 2017, the carmakers said.

After reaching the initial goal of about 400 charging sites along major highways in Europe, the group aims to have “thousands of high-powered charging points” on the continent by 2020, the statement said.

The JV is to include Volkswagen’s Audi and Porsche brands.

A Ford spokeswoman in the United States, Angie Kozleski, said the JV is in discussions with power generation providers but is not ready to announce which company or companies will supply electricity to the charging stations.

The initial focus of the JV, Ford’s Kozleski said, “will be building the network in Europe and the joint venture will decide on possible expansion, based on market insights, when it is appropriate.”

She would not comment on Ford or other automakers’ efforts to develop charging networks in the United States or Asia.

In September, ChargePoint Inc, the world’s largest electric vehicle charging network, said the U.S. divisions of Volkswagen and BMW are collaborating on charging networks on the two U.S. coasts.

The European network will be based on so-called combined charging system technology, enhancing existing AC and DC charging standards and allowing for ultra-fast power levels of up to 350 kilowatt-hours.

Originally reported by the Reuters.

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A vintage wheelcap of a BMW is pictured before a news conference marking the company's centenary celebrations in Munich

A vintage wheelcap of a BMW is pictured before a news conference marking the company’s 100th birthday festivities in Munich, southern Germany March 7, 2016

BMW wants to boost sales of electric cars by two-thirds next year to 100,000 vehicles as the luxury automaker is offering more battery-powered models, Süddeutsche Zeitung reported, citing Chief Executive Officer Harald Krüger.

Munich-based BMW expects to increase its deliveries of fully electric and hybrid vehicles to around 60,000 units this year, Krüger said in an interview published on Monday. Sales of battery-powered BMW models have totalled about 100,000 cars since 2013, he noted.

“Electric mobility will come, but demand is not going through the roof at the moment,” the newspaper quoted Krüger as saying.

To help improve sales, BMW is also increasing the battery range of its i3 city vehicle by 50 percent this year. The i3, BMW’s only fully battery-powered car, sold only 25,000 units last year.

The company, which has dropped behind Daimler’s Mercedes-Benz in global luxury-car sales rankings, wants to expand the share of electric cars and hybrid models to between 15 percent and 25 percent of sales by 2025, the newspaper reported.

Originally reported by Reuters

Remember, no issue has a quick fix solution. Thus, always ensure to consult highly knowledgeable group of professionals whom would provide you with a collective advice, never individual advice. This group advice and approach is unique with CWIIL Group and is based on the overall Management Philosophy of all CWIIL Group Companies.

Consulting CWIIL Group of Companies, for any / all investment matters ensures advice based on highest level of knowledge which are given to you by a team of select research-oriented experts whom each will do their own assessment of your matter, and also assess it together, thus ensuring that in case a mistake has been made by one, it will be noticed and corrected even before it is being passed on to you. Receiving incorrect and un-knowledgeable investment advice can be disastrous and thus should be avoided.

CWIIL Group of Companies is a global group of multi-specialised units with diversified interests and activities, wherein each company is a separate legal entity registered under prevailing laws in different parts of the world. CWIIL Group of Companies Products, Services, Project and Solutions are in a multitude of Verticals including, but not limited to, Infrastructure, Power, Oil & Gas, Legal, Media, Technology, ITES, HR, Shipping, Aviation, Real Estate, Hospitals, Health and Medicine, Education, Funding & Investment, Business and Legal Consultancy, and Public Private Partnerships, and other CWIIL Group Units, worldwide, to name a few.

For Further Queries Feel Free to Contact :

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Operations Research & Implementation Division,
Email : deputy.gd.11@cwiilgroup.eu
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For Queries Specific to the EU Region :
Email : eu@cwiilgroup.com , hq@cwiilgroup.eu
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For Any / All Other Queries :
CWIIL Group Global Regional Headquarters Denmark,
Address : No. 1, Klokkebjergevej, DK6900 Skjern, Denmark
Voice : +45.5148.3608
Fax : +45.7014.1498
Email : corpcomm@cwiilgroup.eu
Web : www.cwiilgroup.eu
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Office Hours :
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Nearly 2,000 people in Germany have applied for the government’s electric car discount scheme, introduced on July 1, and a third of them are buyers of BMW models, a government agency said on Thursday.

The scheme, similar to those established in other European countries to spur electric car sales, grants buyers of electric cars a 4,000 euro ($4,452.00) discount and gives buyers of plug-in hybrid vehicles a discount of 3,000 euros.

Since its introduction, 1,791 buyers of electric or plug-in hybrid vehicles have applied for the discounts and 581 of them were buyers of BMW models, notably its i3 electric car, the BAFA, economic affairs and export control agency said. BMW has pioneered the production of such cars in Germany and offers more models than other carmakers.

There were 444 applications for the discounts from buyers of Renault models and 154 applications from buyers of Volkswagen models, BAFA said.

The total 1.2 billion euro ($1.3 billion) cost of the incentives is being shared equally between the German government and carmakers, with a goal of selling around 400,000 electric cars in Europe’s biggest car market.

Out of the 45 million cars on German roads, only about 50,000 are purely battery-powered vehicles or plug-in hybrids.

The incentive scheme expires at the end of June 2019, BAFA said.

BAFA said 1,194 requests for the discounts on electric cars and 597 requests for plug-in hybrid discounts have been submitted, adding a third of all requests were filed on behalf of companies.

Originally reported by Reuters.

Remember, no issue has a quick fix solution. Thus, always ensure to consult highly knowledgeable group of professionals whom would provide you with a collective advice, never individual advice. This group advice and approach is unique with CWIIL Group and is based on the overall Management Philosophy of all CWIIL Group Companies.

Consulting CWIIL Group of Companies, for any / all investment matters ensures advice based on highest level of knowledge which are given to you by a team of select research-oriented experts whom each will do their own assessment of your matter, and also assess it together, thus ensuring that in case a mistake has been made by one, it will be noticed and corrected even before it is being passed on to you. Receiving incorrect and un-knowledgeable investment advice can be disastrous and thus should be avoided.

CWIIL Group of Companies is a global group of multi-specialised units with diversified interests and activities, wherein each company is a separate legal entity registered under prevailing laws in different parts of the world. CWIIL Group of Companies Products, Services, Project and Solutions are in a multitude of Verticals including, but not limited to, Infrastructure, Power, Oil & Gas, Legal, Media, Technology, ITES, HR, Shipping, Aviation, Real Estate, Hospitals, Health and Medicine, Education, Funding & Investment, Business and Legal Consultancy, and Public Private Partnerships, and other CWIIL Group Units, worldwide, to name a few.

For Further Queries Feel Free to Contact :

Mr. Gregor Novak,
Deputy Global Director, No. 11,
Operations Research & Implementation Division,
Email : deputy.gd.11@cwiilgroup.eu
Voice : +45.8176.1946
Social Media : LinkedIn – Twitter – Facebook

For Queries Specific to the EU Region :
Email : eu@cwiilgroup.com , hq@cwiilgroup.eu
Web : www.cwiilgroup.com , www.cwiilgroup.eu

For Any / All Other Queries :
CWIIL Group Global Regional Headquarters Denmark,
Address : No. 1, Klokkebjergevej, DK6900 Skjern, Denmark
Voice : +45.5148.3608
Fax : +45.7014.1498
Email : corpcomm@cwiilgroup.eu
Web : www.cwiilgroup.eu
Connect : LinkedIn – Twitter – Facebook – Quora

Office Hours :
Monday to Friday : 10.00 – 17.00 CET.
Saturday : 10.00 – 14.00 CET.
Sunday : Closed.

The Corporate Communications Team would require minimum a fortnight for Reviewing & Responding to Queries, which please note.

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