Mercedes Owner Invests in ChargePoint to Back Electric-Car Push
- Daimler leads $82 million funding of charging-network operator
- Europe’s electric-vehicle market to ‘eclipse’ U.S., CEO says
A Chargepoint electric vehicle charger in Mountain View, California, Aug. 24, 2016.
Photographer: Smith Collection/Gado/Getty ImagesThis article is for subscribers only.
Daimler AG invested in ChargePoint Inc., which operates a network of electric-car charging stations, as the Mercedes-Benz maker ramps up a push into battery-powered vehicles.
Daimler led a group investing $82 million in the Campbell, California-based company, with the funding aimed at boosting the number of charging points across Germany, France, the U.K. and Scandinavia. As part of the deal, Daimler will appoint a director on ChargePoint’s board. BMW AG’s i Ventures and other existing investors also particated in the funding round, ChargePoint said.