ChargePoint to equip Daimler dealers with electric car chargers

Global: The move, part of the Silicon Valley-based firm’s foray into the European market, comes only two weeks after a $240-million (190-million pound) funding round, its biggest ever, in which Daimler - already an investor - took part via its trucks and buses unit. Daimler's German peer BMW has also invested in ChargePoint, while other shareholders include German industrial conglomerate Siemens, U.S. utility American Electric Power and oil producer Chevron. The agreement includes the deployment of slower AC chargers and fast 150 kilowatt chargers at properties owned by Daimler into 2019, ChargePoint said. The chargers will also be available to retailers of cars, vans, and trucks of Daimler's Mercedes-Benz brand. "As ChargePoint continues to scale in the midst of the most aggressive period of growth in its history, this agreement is another milestone in our ongoing partnership with Daimler," Christopher Burghardt, ChargePoint's managing director for Europe, said. "The two companies have continued to work closely on a wide range of strategic projects as both companies prepare for the mass adoption of electric mobility in Europe." In the most recent sign of German carmakers accelerating their push into electric vehicle technology, Daimler earlier this week said it would buy battery cells worth more than 20 billion euros ($23 billion) by 2030. ChargePoint aims to operate 2.5 million charging points by 2025, compared with more than 58,000 currently. According to BlueWeave Consulting, the electric vehicle section of the automotive industry is at the flourishing stage, supportive government policies and high public & private sector investment in the region are booming the industry. Over the years the automotive industry will witness phenomenal growth with high investment from various investment companies. Increase in per capita income and rise in urban population has surged the demand for automobiles leading to higher revenue generation in the developing region. Prominent automotive companies are willing to enter into the market through acquisition and partnership, further government supportive policy is positively impacting the market. Companies are focusing on controlling cost, improving efficiency and utilization of alternative energy engines. Electric vehicles (EVs) are the most fuel-efficient reduces emissions and significantly lower energy costs, thus EVs are on high demand, which in turn will promulgate the market growth of EV batteries and charging stations as well in near future. According to the report by BlueWeave Consulting on “Global Electric Commercial Vehicles Market, By Propulsion, By Vehicle Type, By Component Type, By Region- Industry Analysis, Size, Share, Growth, Trends & forecast by 2018-2024”, the global electric commercial vehicle is projected to grow over a CAGR of 12% during the forecast period of 2018-2024 by value. The market is expected to reach around USD 149,316 Million by 2024. The demand for electric vehicles and charging station is governed by an increase in demand for fuel-efficient, high-performance, and low-emission vehicles. In addition, the trend of reduction in vehicular emission due to stringent rules & regulations in several countries and growth of public charging infrastructure in China, India, and the other developed countries are fuelling the market growth. According to the recently published report by BlueWeave Consulting on “Global Electric Vehicle Charging Station Market, By Product Type, By Installation Type, By Suppliers Type, By Region- Industry Analysis, Size, Share, Growth, Trends & forecast by 2018-2025”, the growth is attributed to an increased deployment of charging stations at public places such as shopping malls, commercial buildings, airports, and restaurants. The convenience of being able to use an EV charger while shopping or during office hours is expected to boost the adoption of electric vehicles. Furthermore, government offerings, such as tax credits, on the installation of publicly accessible stations are expected to boost the market. According to the report by BlueWeave Consulting on “Global Electric vehicle Battery Market, By Battery Type, By Vehicle Technology, By Vehicle Type, By Region- Industry Analysis, Size, Share, Growth, Trends & forecast by 2018-2025”, the global electric vehicle battery is projected to grow over a CAGR of 19.04% during the forecast period. The growing demand for Electric Vehicles (EVs) is primarily responsible for the aggressive growth of EV batteries. The sales of electric vehicles have increased due to the increasing government support in the form of tax credits and lucrative subsidies and consumer awareness of the usage and benefits of these vehicles. Moreover, huge investments by major players to set up EV battery plants are expected to further drive the market.