Holland-based electric vehicle (EV) charging station company Fastned has announced plans to partner with Tesla to build charging stalls in Oxford, England, according to Reuters.
The news includes a charging hub with 38 charging stations, as well as 26 of Tesla and Fastneds ultra-rapid chargers. The hub will also include additional AC chargers, courtesy of Spain-based Wenea, and is set to debut by the end of 2021.
Following the announcement, shares of Fastned rose almost 8% to 55.6 euros.
Exciting! 👉 By the end of this year you can charge at one of Europe's most powerful charging hubs, in Oxford. We've teamed up with @OxfordCity , @Tesla , @_pivotpower & @Wenea_Energy.
Up to 14 Fastned chargers will be available. The site will also include battery storage. pic.twitter.com/fP1aHBXrwt
— Fastned (@Fastned) May 21, 2021
Jan Richard, a research analyst at Berenberg investment bank, says the move should help improve Fastned’s U.K. presence.
Richard said, “Partnering with Tesla … should indeed help (Fastned) further increase its public profile in the UK and may allow it to replicate the same development strategy in other municipalities across Europe.”
Featuring up to 10 megawatts of available power, with the potential to be increased down the road, Fastned says the site will be Europe’s most powerful EV charging hub, and it will be powered from 100% renewable energy 24 hours a day.
Tesla and Fastned have partnered before, in building Germany’s largest fast-charging station last fall.
The upcoming Oxford hub is set to be constructed near the Cowley industrial site, beside BMW’s MINI production facility, on the ring road surrounding Oxford. Fastned also shared plans to build at least 40 charging stations this year, with significant expansion expected in 2022.
