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ChargePoint Challenges VW’s U.S. Diesel Emission Settlement
ChargePoint Inc., which operates America’s largest electric-car charging network, claims in a court filing that the EV charging industry in the U.S. could be devastated by Volkswagen AG’s diesel emission cheating settlement.
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ChargePoint Inc., which operates America’s largest electric-car charging network, claims in a court filing that the EV charging industry in the U.S. could be devastated by Volkswagen AG’s diesel emission cheating settlement.
At issue is a requirement that VW spend $2 billion over 10 years to create and operate an infrastructure in the U.S. to support zero-emission vehicles. ChargePoint argues that existing EV charging networks won’t be able to compete with a mandated VW network paid for with “penalty dollars” and unconstrained by normal financial metrics, The Wall Street Journal reports.
Last month the U.S. Dept. of Justice said in a filing with the same U.S. District Court in San Francisco that it considered just such a possibility but concluded there will be no competitive threat. The department predicts an upswing in investments by multiple players in the emerging charging network industry.
ChargePoint’s filing estimates the EV charge providers in the U.S. are on track to generate about $800 million in revenue between 2017 and 2019.
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