The Swedish utility Vattenfall has started a new business unit with the purpose of becoming a leading provider of EV charging infrastructure within the next five years. The energy firm aims to expand its charging solutions Europe-wide.
And not for nought – Vattenfall hopes its EV charging business will generate one billion Swedish Krona in revenue. Therefore the energy company is planning to extend their charging solutions to private households, companies and public services in phases, expanding to new markets such as France, the UK and Norway, and expects that their charging network will double on a yearly basis.
Currently Vattenfall has charging stations in Sweden (8,800 charge points), Germany and the Netherlands. “We are continuously developing in order to meet requirements of the new energy landscape and the needs of our customers,” says CEO Magnus Hall. EVs are becoming increasingly popular, so the demand for charging solutions is also increasing. “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.”
Vattenfall is also a co-investor in the construction of the Northvolt factory for battery cells in Sweden, and has been specialising in stationary battery technology as well as EV batteries for some time. Furthermore, the company announced to replace their entire company fleet of about 3,500 vehicles with EVs or hybrids by 2022. The new EV charging business unit currently comprises of 60 employees.