Estonia Orders Fast-Charging Network from ABB (ABB)
Swiss-based power and automation company ABB Ltd. (NYSE: ABB) has won a tender from the government of Estonia to build a network of 200 fast-charging (DC) electric vehicle (EV) charging stations throughout the country. This is the largest EV charging…
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Swiss-based power and automation company ABB Ltd. (NYSE: ABB) has won a tender from the government of Estonia to build a network of 200 fast-charging (DC) electric vehicle (EV) charging stations throughout the country. This is the largest EV charging infrastructure contract to date in Europe, as well as the first fast-charging infrastructure with full nationwide coverage. Estonia is about the same size as Ohio.
ABB’s win includes a five-year maintenance contract on the network of charging stations. Installation will begin in the second quarter of this year.
The ABB stations can fully charge an EV’s battery in 15-30 minutes, compared with up to eight hours for an AC charging station.
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Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.
