Daimler has accelerated its electric vehicle (EV) expansion by investing in a charging solutions firm.
The vehicle manufacturer behind Mercedes-Benz is leading an $82 million (£77.8m) investment from ChargePoint, the leading provider of charging infrastructure in the US, to move into European markets.
It hopes the move will boost the electric mobility market by paving the way for a new wave of “customer-focused solutions”.
Pasquale Romano, CEO of ChargePoint, said: “The automobile industry is at an inflection point, with more vehicles coming onto the market offering highly advanced electric powertrains than any other time in the world’s history.
“The significant investment by our lead investor Daimler and others not only underscores a collective commitment to e-mobility around the world but will lay the groundwork for Europe’s most comprehensive charging network.”
Daimler currently sells only small numbers of EVs but its Mercedes-Benz division plans to launch 10 all-electric models by 2025 under a new brand called ‘EQ’.
Daimler has also been involved in rolling-out hydrogen vehicles in Europe.