Analyst Note| Richard Hilgert |
Mercedes-Benz plans to launch a global branded electric vehicle charging network this year with aims to reach 10,000 high-power chargers in service before 2030. The network will focus on Mercedes owners with preferential pricing and access, but will also be open to other automaker brands with compatible technology. Charging locations will be built in the U.S. and Canada first, followed by Europe, China, and other regions. By 2027, the firm expects to have 400 locations and 2,500 chargers operational in North America with support from partners ChargePoint and MN8 Energy. We suspect the early focus on the U.S. results from government funding made available through the recently enacted infrastructure law that sets aside $5 billion for investment in fast-charging stations.