XCharge to enter French and German fast-charging market

Chinese start-up XCharge seeks to challenge existing players of the German and French fast-charging market, the “Handelsblatt” has learnt. Created in 2015, the company provides so far EV charging stations in Shenzhen, China.

First negotiations with BMW and service station provider Total are said to have taken place recently. In February, XCharge seems to plan presenting itself at the E-world in Essen, Germany. The start-up’s strategy includes offering fast-charging stations at a price level of 5,000 euros.

Due to its expansion plans, XCharge intends to increase its production output from currently 10,000 charging stations per year to 30,000 in 2018. Fresh money comes from GGV Capital, a U.S. investor who backs the start-up with 10m dollars. Additional 50m dollar of investment shall be raised during the present year. One of the company’s early acquired investors is Samsung.
handelsblatt.com (in German, with pay wall) via t3n.de