Vattenfall Aims for Leadership in EV Charging Infrastructure

Vattenfall has set up a new business unit with the aim to become a leading electric vehicle (EV) charging infrastructure operator in Northwest Europe within five years, whilst achieving a turnover of SEK 1 billion.

"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," says Magnus Hall, Vattenfall's CEO.

Vattenfall currently operates EV charging networks in Sweden, Germany and the Netherlands. Vattenfall will now gradually extend the offering for convenient home, business and public charging solutions to new markets, such as the UK, France and Norway. "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," says Tomas Björnsson, Head of Vattenfall's E-mobility business unit.
 
The new business unit employs some 60 people today and is growing rapidly.

In a bid to further promote the usage of electrical vehicles, Vattenfall is currently implementing a program to electrify its fleet of 3,500 vehicles. Those will be replaced with EV:s or hybrid-cars by 2022.

Vattenfall's strategy is to be fossil free within one generation. Under the current investment plan, SEK 3 billion has been allocated for the development of new businesses, including charging infrastructure and battery storage.