EG Group Partners With Tesla For Major EV Charging Expansion In Europe
Benzinga · 11/13 11:02

In a significant advancement for the European electric vehicle (EV) landscape, UK-based petrol station operator EG Group is set to acquire ultra-fast charging units from Tesla Inc. (NASDAQ:TSLA) to broaden its EV charging network across the continent.

What Happened: According to a Reuters report, EG Group, owned by the billionaire Issa brothers, aims to boost its charging network from the current 600 to more than 20,000 chargers at its own sites over time.

This strategic decision aligns with the UK’s ambitious goal of achieving net-zero emissions by 2050, necessitating an expanded public charging network to accommodate the growing shift to electric vehicles. As of October 1, the UK had just over 49,000 public EV charging devices installed, as per government data.

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The “open network” Tesla chargers that EG Group is buying will be accessible to all drivers, irrespective of their vehicle brand. Rebecca Tinucci, Tesla’s senior director of Charging Infrastructure, emphasized that “the rapid installation of reliable, easy-to-use EV charging infrastructure is the right step towards a sustainable future.”

Tinucci further indicated that Tesla’s fast-charging hardware would be available for purchase to “other leaders” in the EV infrastructure sector.

Why It Matters: This development is a crucial milestone for Europe’s EV infrastructure growth. The partnership between EG Group and Tesla Inc. will significantly enhance EV accessibility, helping to accelerate the adoption of electric vehicles across the continent. This move not only supports the UK’s net-zero emissions target but also meets the increasing demand for EV charging infrastructure in response to the rapid growth of the EV market. In addition, by making Tesla’s fast-charging hardware available to other leaders in the space, Tesla is encouraging broader collaboration and competition within the EV charging infrastructure sector, further promoting the transition to sustainable transport.

Photo by Paul2015 on Shutterstock

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