Volkswagen, Italy's Enel Form JV To Boost High-Speed Charging - Volkswagen (OTC:VWAGY)

Volkswagen AG (OTC:VWAGY) and Enel X Way, the Enel (OTC:ENLAY) Group's company dedicated to electric mobility, have launched their joint venture Ewiva.
The JV will accelerate the uptake of electric mobility in Italy and promote the development of a high-power charging (HPC) network across the country.
The joint venture expects charging points in 500 locations by the end of 2023.
It aims to reach 3,000 charging points, each with up to 350 kW and powered by 100% renewable energy, by 2025.
Also Read: Volkswagen Stays Decision On Gigafactory In Eastern Europe Beyond 2022
Ewiva will operate more than 800 sites focused on city centers, suburban areas, and main roads used by commuters and tourists.
The joint venture opened its first premium recharging station in Rome. The Rome station has 14 ultra-fast charging points each with up to 300 kW, all under a solar roof made of PV panels manufactured at Enel's 3Sun Gigafactory in Sicily.
"The expansion of the charging infrastructure plays a key role in the success of e-cars," said Thomas Schmall, Volkswagen Group Board Member for Technology and CEO of Volkswagen Group Components.
Also Read: Volkswagen CEO Plans To Present Software Roadmap On December 15
Price Action: VWAGY shares are trading higher by 0.71% at $18.37 on the last check Tuesday.
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