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BMW and Mercedes-Benz plan to work together to develop a fast-charging network for electric vehicles in China, with at least 1,000 charging stations planned by 2026.
The first plants will be operational next year in regions with high EV penetration. However, this still puts them behind Tesla in the number of charging stations in China, which already has more than 1,600 charging stations.
BMW and Mercedes plan to promote their chargers in China and open them to several EV brands. China is leading the global transformation by rapidly rolling out EV infrastructure, now boasting 715,000 ultra-fast connectors, almost 12 times the number of high-speed chargers available in Europe.
Despite the government extending tax breaks to boost EV sales, Chinese makers such as Nio are still struggling to cut costs as Tesla’s price war has led to worsening losses.
(Source: Bloomberg Image source: freepik)
