E.ON, Clever form electric car charging joint venture

FILE PHOTO: Electric car parking place with the charging stations is seen at the front of the German utility E.ON headquarters in Essen, Germany, May 9, 2018. REUTERS/Wolfgang Rattay/File Photo

FRANKFURT/DUESSELDORF (Reuters) - German energy firm E.ON EONGn.DE and Denmark's Clever A/S have formed a 50-50 joint venture to install high-speed charging stations for electric vehicles, E.ON said on Tuesday, in a move to link up cities across Scandinavia.

The 48 charging sites will be installed in Denmark, Sweden and Norway and are expected to be operational next year. They will be operated by the joint venture, E.ON said, adding third-party providers would also get access.

Utilities are hoping that an increased uptake of electric vehicles across Europe will enable them to sell more power, leading them to muscle into the field of ultra-fast charging points where car owners can recharge their batteries in minutes.

The stations will offer power of more than 150 kilowatts (kW), meaning mid-sized cars can fully recharge in 15-20 minutes. Some rivals have recently begun to test here stations with a capacity of up to 450 kW.

No financial details were disclosed of the venture, which follows an initial cooperation agreement between the two companies in late 2017.

Across Europe, E.ON operates about 3,000 charging points, of which 800 are in Germany.

There were more than 16,100 public charging points in Germany at the end of 2018, according to industry group BDEW.

Reporting by Christoph Steitz and Tom Kaeckenhoff; editing by Jason Neely