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15 09 2017 04

Fastned was today awarded a subsidy of 4.1 million euro by State Secretary Rainer Bomba of the German Federal Ministry of Transport and Digital Infrastructure. Fastned will use the subsidy to build 25 fast charging stations each with multiple chargers across Germany. The stations will be equipped with the latest high powered chargers that can add over 250 km of range in 20 minutes. Fastned expects to open the first stations in the first months of next year.

The subsidy is part of the electric vehicle (EV) charging infrastructure stimulation programme of Bundesminister Dobrindt. The programme is designed to reduce the investment risk associated with investing in infrastructure before the EVs are actually there. This enables charging companies like Fastned to invest ahead of the market and have charging infrastructure in place even before large numbers of EVs will hit the roads. As such, the programme is intended to solve the ‘chicken-and-egg’ problem whereby people are hesitant to buy an EV when there is no charging infrastructure and investors are hesitant to invest in charging infrastructure when there are only few EVs.

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