VW, BMW, Ford to set up charging networkVolkswagen AG, BMW AG and Ford Motor Co plan to set up a European network for the speedy charging of electric-car batteries as the auto manufacturers seek to overcome customer resistance to the vehicles. The partnership, which will also include Mercedes-Benz parent Daimler AG, aims to establish "thousands" of stations along European highways by 2020, the automakers said on Tuesday in a statement. "A reliable, ultra-fast charging infrastructure is important for mass consumer adoption and has the potential to transform the possibilities for electric driving," Ford Chief Executive Officer Mark Fields said. The rare broad-based cooperation shows the strains on carmakers as they invest billions of dollars to develop battery-powered vehicles to comply with tighter environmental regulations. The German government agreed earlier this year to a 1 billion euro ($1.06 billion) financing package to encourage electric-car purchases, with about two-thirds of the figure slated for developing roadside charging stations.

Source: The China Post December 01, 2016 17:53 UTC