BMW to invest in EV infrastructure in China

|By:, SA News Editor

BMW (BAMXY) says it will invest in a project to build 50 electric vehicle charging stations in Shanghai as a first step in a broader roll-out.

The German automaker will partner with State Grid Shanghai Electric Vehicle on the initiative.

The big picture: Though the Chinese government has a stated goal of seeing 500K hybrid and EVs on the road by 2020, it's been slow to roll out a free licensing program on a large scale and hasn't addressed the infrastructure needs of for that many vehicles.