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Top Automakers Fund Charging Sites To Boost Electric-Car Demand


Ron Burgundy
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A Volkswagen logo is seen on the wheel of a car in GrafenwoehrTop carmakers in Germany have agreed to jointly invest in thousands of ultra-fast charging sites across Europe to boost mainstream acceptance of electric cars, the companies said. Spurred on by the success of U.S. rival Tesla which has received huge pre-orders for its Model 3 car, German rivals such as Volkswagen and Daimler's Mercedes are accelerating their own electric car programs. To help turn the tables, VW, its Audi and Porsche luxury brands, BMW, Daimler and Ford's European division are planning a joint venture to fund the setting-up of charging sites starting next year, the six carmakers said in a joint statement published on Tuesday.




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