Germany is building out an EV fast charging infrastructure. Two months ago, the European Commission decided “Germany’s scheme to roll out a network of user-friendly infrastructure for charging electric vehicles across the country is in line with EU state aid rules.” The government will invest €300 million (nearly $320 US) and two-thirds of this is designated to accelerate the development of a fast charging network. The buildout started long before any announcement of Government funding. 292 units were installed last year. Construction of the Dutch company Fastned’s first German EV fast charging stations is about to commence.
In the five years since Fastned incorporated, they have built 59 fast charging stations through-out the Netherlands. Investors funded this expansion. Now many of these stations are generating revenue. Last week Europe’s largest EV Fast Charging Station company announced an important milestone.
Fastned’s original funding came from its founders and angel investors such as the Lubbers family (Breesaap) and Fred Matser (Flowfund). Last year, the Dutch fast charging station company needed three weeks to raise EUR 3 million selling share certificates on Nx’change. Now, Fastned raised EUR 2.5 million over the weekend. Continue reading Fastned Raised EUR 2.5 Million Over The Weekend→
Michel Langezaal believes that electric cars could replace gas cars, as the vehicle of choice, within a decade. The tipping point will come after they have more range and are competitively priced. He said, “History shows us that once you hit 5% or 6%, if the product is better, then the breakthrough comes much quicker.” The latest LUX Research report is more conservative and predicts a $10 Billion PEV Market By 2020.
People working in automotive development labs today see cars which will hit the road in a couple of years time and know their internal combustion counterparts cannot compete: they see the tipping point today. For most of us, it is still a future event. Today’s electric vehicles need to become more affordable. They need longer range and an infrastructure to support them. Fastned’s CEO, Michiel Langezaal, says everything will move quickly after these issues are addressed. Everybody may be driving EVs in 10-15 Years.