FRANKFURT -- Germany's Hubject, which is developing a standard method to pay at EV charging stations, secured fresh funds from shareholders to expand into China and the United States.
The need to build, improve and access infrastructure for
electric vehicles is seen as a key obstacle for the industry to
The company did not specify how much money it had raised,
only saying the investment, the second within a year, was worth
millions of euros.
Hubject has more than 61,000 charging points for electric
vehicles in its database, mostly in Europe and Japan, and the
fresh round of funding gives it the resources to expand. It has already
set up a subsidiary in the United States.
"In China and the United States, too, complex access and
payment systems are hindering advances in e-mobility ¨C a large
number of non-standardized charging networks makes it difficult
to ensure a smooth charging process," Hubject said in a statement Monday.
In China, the group is currently looking for a partner to
set up a joint venture, a pre-condition for foreign companies to
do business there, co-Chief Executive Thomas Daiber told
Owned by a group of automakers, auto suppliers,
engineering groups and utilities, Hubject's ownership reflects the numerous stakeholders expected to be affected
by a pickup in demand for EVs.
Hubject's seven owners include Volkswagen,
Daimler, BMW, Siemens, Bosch
, Innogy and EnBW, which are all
banking on the industry's shift away from combustion engines.
Like rivals such as France's Gireve and e-clearing.net,
Hubject is trying to establish its service as the standard
payment system for charging stations.
Companies also map the stations and supply drivers with
information about locations and availability, provided they have
a working internet connection.