BMW and Mercedes-Benz are cooperating to build fast charging stations in China by 2026

BMW and Mercedes-Benz are cooperating to build fast charging stations in China by 2026

According to a report by www.finanzen.net, German premium carmakers BMW and Mercedes-Benz plan to build a fast-charging network in the Chinese automobile market. By the end of 2026, a charging network of at least 1,000 stations with 7,000 fast charging points should be created. The companies have founded a joint venture and the first fast charging stations are expected to go into operation in China from 2024.

It is expected that the fast charging network will be publicly accessible and available for all vehicle brands. Customers of both companies should benefit from exclusive functions such as Plug & Charge and advance reservation of charging points. However, the transaction is still subject to regulatory approval.

BMW shares fell by 0.50 percent to 95.59 euros by the XETRA close, while Mercedes shares rose by 0.49 percent to 59.58 euros.

As a financial expert, I see this cooperation as a significant strategic initiative by both companies to penetrate the electric vehicle market in China. Creating a comprehensive fast-charging network can help promote electric mobility in China and increase the attractiveness of electric vehicles for Chinese consumers.

For the financial industry, this cooperation means that the share prices of BMW and Mercedes-Benz are likely to be volatile due to the different reactions to the announcement. In addition, this partnership could have a long-term positive impact on the companies' market position and their competitiveness in the field of electromobility.