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Daimler Becomes ChargePoint's Lead Investor, Wants To Bring It To Europe

Daimler, the German company that controls Mercedes-Benz, smart, and Maybach, has announced a strategic investment in America’s leading charging solutions provider.
Daimler accelerates expansion of its ecosystem for electric vehicles with ChargePoint 1 photo
Photo: Daimler
Daimler has become the biggest investor in ChargePoint, and the corporation will get a seat on the board of directors to go along with its new role.

The German conglomerate wants more than simply having a slice of the EV charging market in the U.S., as it plans to introduce ChargePoint on the European market, and also offer personalized solutions for its clients.

While it may seem cheaper to develop solutions in-house, without acquiring other companies, many industry leaders have found that it is easier to buy a firm that already does what you plan to do, as long as international laws allow the acquisition.

In this chase, developing quick charging solutions, creating a network of charging points, and other things like these can take years, and they are not inexpensive, even for a conglomerate as big as Daimler.

In the game of electric cars, which are set to increase in sales volumes across the world over the next few years, wasting time could cost an automaker its position in the sales rankings. Mercedes-Benz’ parent company does not want to be in second place on this one, so Daimler invested in a firm that already handles electric mobility charging solutions.

In case you forgot, Daimler has announced it will launch a sub-brand that will only sell electric vehicles. Dubbed EQ, Mercedes-Benz’s new product line will offer intelligent mobility solutions to go with its cars, which will be different from the ones in the rest of the range.

Previous press releases have announced Daimler’s intention of investing €10 billion in expanding its electric vehicle range, and solutions tailored for its customers are essential for this move. The company will have to provide home charging solutions, as well as products for businesses.

Moreover, a network of charging points will have to be created, so that clients will get to use electric cars for their daily trips without worries that can be tagged under “range anxiety.”
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About the author: Sebastian Toma
Sebastian Toma profile photo

Sebastian's love for cars began at a young age. Little did he know that a career would emerge from this passion (and that it would not, sadly, involve being a professional racecar driver). In over fourteen years, he got behind the wheel of several hundred vehicles and in the offices of the most important car publications in his homeland.
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