Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Nasdaq  >  Apple    AAPL

APPLE (AAPL)
Mes dernières consult.
Most popular
  Report  
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsofficial PublicationsSector newsTweets

Energy firms battle startups to wire Europe's highways for electric cars

share with twitter share with LinkedIn share with facebook
share via e-mail
0
09/15/2017 | 08:30am CEST

PARIS/FRANKFURT (Reuters) - The battle over how and where Europeans charge their electric cars is expanding from the continent's cities to its motorways.

Power utilities, tech start-ups and oil majors are fighting to establish themselves as the dominant players in the fast-growing business of charging stations – but advances in electric vehicles means where they build them is changing.

Refuelling conventional petrol and diesel cars on motorways has long been the domain of the oil companies, which typically have their own networks of filling stations. Several are now talking about setting up high-power charging networks, creating major competition for limited space at motorway service areas.

"It is a bit of a landgrab now to win this sector," said Tim Payne, chief executive of British charging start-up InstaVolt, which has raised 12 million pounds to install 3,000 charge points across Britain by 2020.

While the range of electric vehicles (EVs) was less than 100 km (60 miles), Europe's utilities were happy to help cities and companies install slow and inexpensive charging points at homes, offices and shops, often supported by state subsidies.

But Tesla (>> Tesla), Porsche (>> Volkswagen) and BMW (>> Bayerische Motoren Werke) are now making battery-powered cars with enough range to drive across countries. Daimler (>> Daimler) and Volkswagen also announced plans on the eve of this week's Frankfurt motor show to accelerate their shift to electric cars.

Charging infrastructure remains nowhere near it needs to be. "Where is the network of charging points that will be required? Indeed where is the power and the grid?" Ralf Speth, boss of Britain's Jaguar Land Rover, asked last week.

Experts including ChargePoint and Engie (>> Engie) are, however, making plans to build pan-European networks of high-voltage fast-charging stations which can refill a battery in less than half an hour instead of overnight.

In Britain, InstaVolt is renting land from filling station operators, bringing them additional revenue from the lease as well as the increased traffic to their shops at the sites. It earns a margin by selling power through the chargers.

InstaVolt struck a deal in May with ChargePoint, which itself is on a $125 million expansion spree in Europe, to install about 200 of the U.S. group's ultra-fast chargers close to popular roads across Britain.

UP FOR GRABS

Morgan Stanley estimates that 1-3 million public charging points could be needed in western Europe by 2030, adding that while utilities have natural skills in the new industry, it was too early to determine who will come put on top. "The winning business model is up for grabs," it said.

Today, there are fewer than 100,000 public charging points available in Europe, with only about six percent of them fast, according to the International Energy Agency.

Almost none of these is super-fast, a term usually used for charging stations with an output of at least 150 kilowatts. More than three times faster than current-generation chargers, they are now being targeted by those trying to become market leaders.

Contenders include Dutch EV-Box, one of Europe's biggest makers of charging stations, which was snapped up by French utility Engie (>> Engie) in March.

"We expect hundreds of millions of annual revenue from EV-Box in a few years," Thierry Lepercq, head of innovation at Engie, told Reuters. He sees Engie's EV charging revenue growing by a factor of 20 in three to five years. Last year, EV-Box had sales of 16 million euros ($19.1 million).

EV-Box Chief Executive Kristof Vereenooghe said that unlike most of its competitors EV-Box has been profitable from the start, a claim that makes it stand out in an industry where gaining scale is considered more important for now.

That's why German utility E.ON (>> E.ON), too, announced a strategic partnership with Danish startup CLEVER and said it had the ambition to roll out several hundred ultra-fast charging stations along European motorways.

CLEVER, which is owned by a group of Danish utilities and runs charging networks in Denmark, Sweden and Germany, wants to extend its network to France, Britain and Italy with E.ON.

The firm, which unlike EV-Box and ChargePoint does not make its own hardware, is also still looking for other partners. "We want to connect cities so that you can easily drive across Europe in an electric vehicle," CLEVER Chief Executive Casper Kirketerp-Moeller said.

TALK LESS, INSTALL MORE

Among the oil majors, BP (>> BP), Shell <RDSa.L> and (>> Total) have all either announced plans or launched pilot projects for EV charging. Few people, however, expect them to become serious contenders for a business that would effectively curb demand for their chief product: oil.

BP did not respond to repeated requests for comment. A spokeswoman for Shell said it did not make economic sense yet to equip petrol stations fully with EV charging points.

"People like Shell and Total talk a lot, but nothing happens. We are putting the grid connection in place," said Michiel Langezaal, founder and chief executive of Fastned, which has 63 EV charging stations in the Netherlands.

Leasing plots of land, the group wants to raise 100 million euros over the next two years to branch out into Germany, Belgium, France and Britain. So far it gets the stations from Swiss ABB (>> ABB Ltd) but is also in talks with ChargePoint.

Unlike utilities and charging station startups, electric vehicle makers see fast charging networks not as a profit center, but as a loss-leader needed to persuade customers that electric vehicles can drive across continents.

That seems to work for some.

Tesla, for example, operates a proprietary charging network throughout Europe, mainly in hotels, but it is stretched thinly - in the Ile de France region around Paris it has just a handful of "superchargers".

This year, the group's market valuation surpassed that of General Motors (>> General Motors Corporation), making it the biggest U.S. carmaker by that measure.

"Tesla has never been in the black, but had enormous growth," said Elke Temme, who co-heads the e-mobility unit of Germany's Innogy (>> Innogy SE).

"Going forward, however, the business must pay off."

For a graphic, click http://fingfx.thomsonreuters.com/gfx/rngs/ELECTRICITY-AUTOS-CHARGING/010050SN1TE/ELECTRICITY-AUTOS-CHARGING.jpg

(editing by David Stamp)

By Geert De Clercq and Christoph Steitz

Stocks mentioned in the article
ChangeLast1st jan.
ABB LTD 0.23% 21.71 Delayed Quote.-17.08%
BAYERISCHE MOTOREN WERKE -0.58% 79.18 Delayed Quote.-8.30%
BP -1.16% 564.2 Delayed Quote.9.20%
DAIMLER -0.40% 57.03 Delayed Quote.-19.14%
E.ON 0.22% 9.62 Delayed Quote.5.96%
ENGIE -0.41% 13.465 Real-time Quote.-5.65%
GENERAL MOTORS CORPORATION 0.23% 39.36 Delayed Quote.-3.98%
INNOGY SE 0.25% 36.65 Delayed Quote.11.98%
TESLA 0.68% 318.87 Delayed Quote.2.42%
TOTAL -0.47% 53.08 Real-time Quote.15.82%
VOLKSWAGEN -0.68% 143.1 Delayed Quote.-13.49%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on APPLE
11:47aAPPLE : New MacBook Pros Get Major Power Boost
AQ
07/14WE SHARE MALALA&RSQUO;S GOAL OF GETT : Tim Cook
AQ
07/14APPLE : supports Malala Fund expansion in Latin America
AQ
07/14APPLE : increases support for Malala Fund to advance girls' education
AQ
07/14APPLE : Cupertino's business tax may yet get on 2018 ballot
AQ
07/13APPLE : leads new $300 million investment fund to encourage clean energy in Chin..
AQ
07/13APPLE : Supports Malala Fund Expansion in Latin America
BU
07/13PODCAST EPISODE 1 : Interview with Mastercard Chief Security Officer - Ron Green
AQ
07/13CHINA CLEAN ENERGY FUND : Apple invests $300 million in renewable energy for Bej..
AQ
07/13Huawei to build Africa warehouse
AQ
More news
News from SeekingAlpha
03:25aGREENLIGHT CAPITAL : Are The Moves Too Late? 
02:58aWhat JPMorgan, Fastenal, CASS And The DoT Are Saying To Buy 
01:12aSTMICROELECTRONICS : Intriguing Apple Supplier Play 
07/15DNB : Overall Very Good Q2 Results 
07/15Despite Analyst Concerns, Apple Continues To Innovate 
Financials ($)
Sales 2018 261 B
EBIT 2018 69 314 M
Net income 2018 57 791 M
Finance 2018 135 B
Yield 2018 1,42%
P/E ratio 2018 16,65
P/E ratio 2019 14,47
EV / Sales 2018 3,08x
EV / Sales 2019 3,07x
Capitalization 940 B
Chart APPLE
Duration : Period :
Apple Technical Analysis Chart | AAPL | US0378331005 | 4-Traders
Technical analysis trends APPLE
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 40
Average target price 201 $
Spread / Average Target 5,2%
EPS Revisions
Managers
NameTitle
Timothy Donald Cook Chief Executive Officer & Director
Arthur D. Levinson Chairman
Jeffrey E. Williams Chief Operating Officer
Luca Maestri Chief Financial Officer, SVP & VP-Human Resources
Kevin M. Lynch Vice President-Technology
Sector and Competitors
1st jan.Capitalization (M$)
APPLE13.06%940 413
HP INC12.85%38 185
NOKIA OYJ28.40%32 900
MEITU INC--.--%3 476
INTOPS CO LTD--.--%138
DORO AB-1.60%117