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3/15, 2:37 PM (Source: TeleTrader)
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VW-2.56%

251.40
Chart for: VOLKSWAGEN AG ST O.N.

BP+1.31%

341.00
Chart for: BP PLC $0.25

Volkswagen, BP team up to boost EV expansion

BP plc announced on Monday it has joined forces with Volkswagen Group in developing an ultra-fast charging network in order to boost the sales of electric vehicles.

"We know access to fast, reliable and convenient charging will give people more confidence to choose an EV and help overcome the fear of running out of power - also known as range anxiety," BP said in a statement posted on its website.

Meanwhile, the electric vehicle industry continues expansion with the German carmaker looking to build six new battery factories by the end of the decade.

Breaking the News / ND