(Bloomberg) -- ABB Ltd. is preparing to roll out the first of its ultra-fast charging stations in a matter of weeks, providing enough power in less than three minutes to charge any electric car to drive 100 kilometers (62 miles).
The rollout of the Terra 360 stations, where a single charger can feed electricity into four vehicles at once, is starting in Europe before the end of the year, and will spread to North and South America as well as Asia in 2022, ABB said Thursday. The technology can fully charge any auto battery in 15 minutes or less.
“The demand for EV charging infrastructure, especially charging stations that are fast, convenient and easy to operate, is higher than ever,” said Frank Muehlon, president of ABB's e-mobility division.
With road transport accounting for nearly a fifth of global CO2 emissions, e-mobility is critical to achieving the Paris climate goal, according to Theodor Swedjemark, the company's chief communications and sustainability officer.
Carmakers are churning out a wave of new electric models to keep up with tightening carbon emissions regulation that need to overcome consumer turnoffs like slow charging times and patchy infrastructure. With EV demand taking off, ABB Chief Executive Officer Bjorn Rosengren in July predicted the charging business to double with the company preparing to list the business next year.
ABB high-power chargers are already being deployed through partnerships with operators such as Ionity GmbH and Electrify America.
MORE: ABB Explores EV Charging Unit IPO to Help Fund Acquisitions
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