EG Group Partners With Tesla For Major EV Charging Expansion In Europe
Portfolio Pulse from Benzinga Neuro
EG Group, a UK-based petrol station operator, is set to expand its EV charging network in Europe by acquiring ultra-fast charging units from Tesla Inc. (NASDAQ:TSLA). The expansion aims to increase EG Group's chargers from 600 to over 20,000, supporting the UK's net-zero emissions goal by 2050. Tesla's chargers will be part of an open network, accessible to all drivers, and Tesla is also making its fast-charging hardware available for purchase to other companies in the EV infrastructure sector.
November 13, 2023 | 11:02 am
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Tesla Inc. partners with EG Group to expand the EV charging network in Europe, which could increase demand for Tesla's charging units and support the company's growth in the EV infrastructure market.
The partnership with EG Group is likely to have a positive impact on Tesla's stock in the short term as it represents an expansion of their charging network and potential sales of their charging units. This aligns with the growing demand for EV infrastructure in Europe and supports sustainability goals, which are increasingly important to investors.
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