Shell with carmakers to offer high-speed charging points for electric vehicles

Royal Dutch Shell has announced to work with some of the world’s biggest carmakers to offer high-speed charging points for electric vehicles in 10 European countries.

The company has partnered with top carmakers to deploy ultra-fast charging points on Europe’s highways, stealing a march on rivals in the race to remove one of the biggest obstacles facing the electric car sector.

Shell’s agreement with IONITY – a joint venture between BMW, Daimler, Ford and Volkswagen – will initially bring high-powered docks to 80 highway sites in 2019, it said in a statement.

Power giants including France’s Engie and Germany’s E.ON (EONGn.DE), as well as niche players such as U.S. start-up ChargePoint, are all building vehicle-charging networks in Europe, but Shell says the IONITY technology is key to addressing the problem of journey distances.

While electric vehicles still account for only a small fraction of the global car market, the pace of growth and a sustained period of low crude prices is prompting oil companies to reassess century-old business models as the world move towards cleaner modes of transportation.

Under Shell’s most aggressive projections the company expects the global electric vehicle fleet to grow from about 1 percent of the entire auto fleet today to 10 percent by 2025, displacing oil demand equating to about 800,000 barrels per day.

Rival BP said in August that it was talking to electric car manufacturers on deals to offer battery recharging docks at its stations.

Source: Reuters