Ultra-fast EV charging network planned for Europe

|By:, SA News Editor

A charging network is being created in Europe through a group effort that includes BMW (OTCPK:BMWYY), Daimler (OTCPK:DDAIF), Ford (F +0.4%) and Volkswagen (OTCPK:VLKAY) brands Audi and Porsche.

The group sees an "ultra-fast high-powered" charging network along major highways with power levels up to 350 kW.

The initial build-up is planned to start next year with 400 sites across Europe. By 2020, thousands of high-powered charging points are expected.

Stanphyl Capital's Mark Spiegel points out that the planned network is at 2X the speed of Tesla's superchargers. It's the same Spiegel who Bloomberg reports is discussing Tesla (TSLA -2.2%) as a short idea at the Robin Hood conference in NYC.