Eni ( E Quick Quote E - Free Report) entered an agreement with Enel to enable electric vehicle (EV) drivers to charge their vehicles across Italy through their infrastructure networks.
Eni’s recently acquired Be Charge and Enel’s energy e-service unit, Enel X, operate primary EV charging networks in Italy, with about 20,000 charging points. The interoperability of EV charging infrastructures is crucial to scale up the transition to electric mobility in the country. Per the terms of the agreement, customers will be able to access the service from their smartphones through the Enel X, BeCharge and Eni apps.
Enel X and Be Charge intend to spread electric mobility by installing high-powered chargers that allow an ultra-fast, simple and reliable charging experience. In recent years, Enel X developed an extensive charging network, which covers the entire Italian peninsula. It enables people to drive electric cars effortlessly. With the latest agreement, Enel X is working in close collaboration with partners to make the transition to electric power more convenient and cost-effective.
Energy companies are increasingly investing in EV chargers as demand for the same is expected to grow significantly in the future. The latest agreement is part of Eni’s strategy for sustainable mobility of the future, which is a key driver of the energy transition. This includes the evolution of the current service stations and mobility points to provide fast and ultra-fast charging for electric mobility.
Eni plans to install more than 1,000 charging stations in Italy and abroad by 2025. Beside this, the interoperability of EV charging is included in the Eni Live app, enabling drivers to access various services with increasingly automated, efficient and secure payments.
Company Profile & Price Performance
Headquartered in Rome, Italy, Eni is one of the leading integrated energy players in the world.
Shares of Eni have outperformed the
industry in the past six months. The stock has gained 12.9% compared with the industry’s 3.2% growth.
Image Source: Zacks Investment Research Zacks Rank & Key Picks
Eni currently carries a Zack Rank #3 (Hold).
Investors interested in the
energy sector might look at the following companies that presently flaunt a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here .
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