BMW Takes Stake In British Electric Car Firm | Electric Cars and Hybrid Vehicle - Green energy

BMW Takes Stake In British Electric Car Firm

11 Июн 2014 | Author: | Комментарии к записи BMW Takes Stake In British Electric Car Firm отключены
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BMW Takes Stake In British Car Firm

German car giant to stake in Chargemaster under to be announced on Thursday, Sky News

By Mark Kleinman, City

The German automotive giant BMW is to buy a in the British company which and installs half of the UK’s points for electric cars.

Sky can reveal that BMW, manufactures some of the world s popular luxury cars, is to buy a shareholding in Chargemaster.

The deal, which is expected to be on Thursday, will underline the importance of electric cars to the of BMW, which plans to its first model — the i3 next week.

BMW s purchase of the comes as Chargemaster pursues a on London s junior AIM stock in an attempt to raise funds for

The German car-maker is likely to roughly £500,000 in Chargemaster giving it a stake of about 2%, to people familiar with the

Chargemaster, which is based Luton, is a beneficiary of Government to encourage motorists to switch to vehicles, with the European demanding that 795,000 points are installed across the by 2020.

The UK Government is subsidising up to 75% of the cost of charging points, according to the company s flotation documents. European demand for electric charging infrastructure is expected to $1bn (£650m) by 2021.

It money by supplying home units to the likes of Nissan, and Toyota, and produces ranges for and public use.

The BMW shareholding is expected to be trumpeted by as a blue-chip endorsement of its business. The two already have a strategic under which the British is installing electric charging on BMW premises.

To date, however, the of electric cars has been by the dearth of public charging A network is being set up by Chargemaster in the UK the brand Polar.

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The cost of the may also be prohibitive from perspective. BMW announced this that the i3 would cost euros (£30,170), a big premium to the of comparable conventional cars by the group.

Chargemaster was set up by David Martell, the who made his first fortune the creation of the Trafficmaster satellite system.

Mr Martell owns 50% of the with the flotation of Chargemaster a paper fortune worth than £10m. Other are understood to include Lord the former Conservative treasurer.


Norbert Reithofer, BMW s chief said in relation to the company s car development earlier this that being the spearhead of means taking a calculated

Renault, the French car-maker, is developing an electric marque, the

A spokeswoman for the company confirmed an announcement was planned, while declined to comment.

Last Chargemaster made a gross of £1.24m on sales of £3.6m.

BMW 5er Electric Cars
BMW 5er Electric Cars
BMW 5er Electric Cars
BMW 5er Electric Cars
BMW 5er Electric Cars
BMW 5er Electric Cars

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