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French and UK Firms Unite for EV Charging Expansion
In a notable move within the electric vehicle (EV) sector, French oil giant TotalEnergies and British power company SSE have announced the formation of a joint venture named Source, aiming to capture 20% of the fast-charging market in Britain and Ireland. This collaboration, revealed on Tuesday, marks a significant step towards electrification in the region.
Joint Venture and Market Goals
The joint venture, structured as a 50/50 partnership, plans to establish and manage up to 3,000 fast-charging stations across the UK and Ireland within the next five years. These charging points will be powered by renewable energy sources from both parent companies.
Technical Specifications
The 150-kilowatt (kW) fast-charging stations utilize direct current (DC) rather than the more common alternating current (AC), enabling typical EV batteries to charge from zero to full in approximately 30 minutes to an hour. The initiative represents a considerable financial commitment, with TotalEnergies indicating that current costs for deploying the 3,000 DC fast-charging points stand at around 300 million euros.
Existing Expertise and Collaborations
TotalEnergies and SSE bring substantial experience to the table. TotalEnergies already operates a network of 2,500 charging points in and around London and maintains around 65,000 slow-charging stations across continental Europe. Meanwhile, SSE's expertise lies in the integrated electricity grid domain, making the partnership highly complementary.
Comments from Industry Leaders
Mathieu Solas, TotalEnergies’ director of new mobility, emphasized the complementary nature of the partnership, stating, "We have acquired a certain expertise in charging point management, construction, implementation, and client services ... and SSE knows the integrated electricity grid aspect of the business well, so the partnership is very complementary."
Competitive Landscape
This initiative places Source in direct competition with other major players in the UK’s EV charging market, including Shell and BP. Both companies are expanding their EV charging infrastructures, driven by the UK’s mandate for zero-emission new light vehicles and Scotland’s ambitious target of one million EVs on the road by 2030.
