Mercedes-Benz and ChargePoint are going to install thousands of EV fast chargers in the US

Mercedes-Benz, MN8, and ChargePoint are joining forces to install 400 fast electric vehicle charging hubs across the US in a major bid to boost EV sales and improve the nation’s struggling EV charging infrastructure. The project will cost approximately €1 billion ($1 billion), which will be split 50-50 between Mercedes and MN8.

Starting this year, the companies will begin the work to construct hundreds of new hubs, which will include more than 2,500 DC fast charging plugs. MN8 Energy, an offshoot of Goldman Sachs Asset Management focused on solar power and energy storage, will help finance the project using ChargePoint’s EV charging hardware and software, the companies said.

“This is for us a strategic decision to really put our money where our mouth is,” Mercedes-Benz CEO Ola Källenius said in a briefing with reporters earlier today, “and back up the direction that we’re already taking over the last few years, pivoting towards electric and putting the company in a position by the end of this decade to be able to serve markets with an all-electric lineup.”