Fastned, Tesla to power Oxford with EV charging superhub

Dutch charging infrastructure company Fastned (FASTN.AS) has partnered with Tesla (TSLA.O) to build electric vehicle (EV) charging stations in Oxford, England, he said on Friday. , escalating his shares.

The 38-charging station hub will feature 26 ultra-fast chargers from Fastned and Tesla, with additional AC chargers from Wenea in Spain, and is expected to open at the end of 2021.

The initial 10 Fastned charging stations will be able to charge electric vehicles simultaneously at rates that allow drivers to add up to 300 miles (482.8 km) of range in 20 minutes, the company said.

Fastned shares rose nearly 8% to 55.6 euros at 8:37 a.m. GMT.

“The partnership with Tesla … should indeed help (Fastned) further increase its public profile in the UK and could enable it to replicate the same development strategy in other municipalities across Europe,” said Berenberg research analyst Jan Richard.

The hub will be Europe’s most powerful electric vehicle charging hub with up to 10 megawatts of power available for future expansion, Fastned said.

“We can assume that (this site) will be a major contributor to the revenues,” said Juri Zanieri, research analyst at Kempen.

Providing 100% renewable energy to EV drivers day and night, it will also be Britain’s largest public EV charging hub, EDF Renewables (EDF.PA), whose Pivot Power unit is also participating in the project, mentionned.

Located on the ring road around Oxford, the hub is close to the Cowley industrial site, where BMW (BMWG.DE) produces electric MINI cars.

Amsterdam-based Fastned has built 137 fast-charging stations across Belgium, Great Britain, Germany, Switzerland and the Netherlands and aims to expand into France.

It plans to build at least 40 stations in its markets in 2021 and significantly increase the number in 2022.

Data from the UK Society of Auto Manufacturers and Traders last month showed the market share of battery-electric vehicles and plug-in hybrids increased to 13.9% between January and March. Read more

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