Spanish energy giant Iberdrola and British oil & gas super-major BP have announced plans to form a joint venture backed by an investment of €1 billion to deploy a network of 11,700 fast and ultra-fast charging points in Spain and Portugal. The two companies first announced their plans to form the joint venture in July 2022, with a target of 5,000 fast charging points by 2025, and nearly 11,700 points by the end of the decade.
The joint venture will focus on Spain and Portugal, with BP’s extensive network of service stations being used as locations for EV fast charger deployment. Both companies will contribute their existing and future fast charging points to the venture.
“By pooling our resources and expertise, we can deploy lower-carbon mobility solutions at scale for our customers,” said Bernard Looney, CEO of BP. Ignacio Galán, chairman of Iberdrola, added that the strategic alliance “enables progress to be made in the electrification of transport as a key element in reducing energy dependence on fossil fuels and increasing energy efficiency.”
The joint venture between Iberdrola and BP is a major step forward in the transition to electric vehicles and clean energy. It is expected to have a significant impact on the development of EV infrastructure in Spain and Portugal, and could potentially pave the way for similar collaborations in other countries. Joshua S. Hill, a Melbourne-based journalist who has been writing about climate change, clean technology, and electric vehicles for over 15 years, believes that this joint venture could be a game-changer for the industry.
FAQ
Q1: Are electric car batteries recyclable?
A1: Yes, electric car batteries are recyclable.
Q2: Are electric car chargers free?
A2: It depends on the charger and the location. Some electric car chargers are free, while others may require a fee.
Q3: Can electric car batteries be rebuilt?
A3: Yes, electric car batteries can be rebuilt with the right tools and knowledge.
