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TotalEnergies (TTE) to Install 1,100 EV Charge Points in Germany
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TotalEnergies SE (TTE - Free Report) announced that it received a contract to install and operate 1,100 high-power charge points for electrical vehicles (EV) in rural and urban areas, with up to 200 kilowatts (kW) capacity.
These charging stations will be arranged in EV hubs at 134 places across eastern, central and western Germany. The electricity used to power these new charging stations will only come from renewable sources.
TotalEnergies will outfit all of its EV charging hubs around Europe with numerous distinctive services, such as sanitary and catering facilities. It will also offer access to several established payment functions in order to guarantee a flawless charging experience for EV drivers.
TTE’s Focus on Electric Mobility
In June 2023, TotalEnergies won a contract to install and operate 500 public charging points with 11 kW capacity for electric vehicles in Berlin that made TTE a significant participant in Germany’s electric mobility. The company has already installed more than 4,500 charging stations across the country.
TotalEnergies supports the growth of electric transportation on a broad scale by investing heavily in EV charging infrastructure. It has already installed 300 EV fast-charging hubs to enable quick charging on highways and in high-traffic areas. TTE plans to have 1,000 sites in Europe by 2028.
With a portfolio of more than 30,000 charge stations operating or being deployed in Paris, London, Brussels, Ghent, Antwerp, Flanders, Amsterdam and its region, Berlin, Singapore and Madrid, the company pursues its deployment in major metropolitan regions across the world.
Growth Prospects
High power charging enables compatible EVs to recharge at a power of more than 50 kW and up to 300 kW. Depending on the vehicle, this amount of electricity may restore a range of nearly 62 miles (100 kms) in 6 minutes and recharge the battery to about 80% capacity in 20 minutes.
Per International Energy Agency (IEA), the use of EVs is going to increase globally and EV sales are set to make up around 65% of total car sales in 2030. EV sales increased 55% in 2022 compared with the 2021 level. IEA expects sales to increase approximately 25% per year during 2023-2030.
A well-organized EV charging network will be necessary due to the enormous rise in EV usage over the next few years, which will also help reduce emissions from vehicles. According to IEA, Germany has more than 12,000 fast charger stock, the highest of its kind.
Along with TotalEnergies, companies like Shell plc (SHEL - Free Report) and BP PLC (BP - Free Report) are also expanding their EV charging operations.
In August 2023, Shell installed high-speed EV chargers at three of its service stations in Singapore. These new EV chargers are the fastest publicly available chargers in the country, with ratings up to 180 kW. According to Shell, these chargers are more than three times faster than the 50 kW chargers at its other stations.
Shell’s long-term (three- to five-year) earnings growth rate is 9.33%. It delivered an average earnings surprise of 10.7% in the last four quarters.
In February 2023, BP announced its plans to invest $1 billion by 2030 in EV charging stations across the United States. Hertz and BP announced their plan to install fast-charging infrastructure at Hertz locations in significant cities. BP has 22,000 charge points around the world and aims to have more than 100,000 by 2030.
BP’s long-term earnings growth rate is 6.51%. It delivered an average earnings surprise of 7.7% in the last four quarters.
Price Performance
In the past six months, shares of TotalEnergies have risen 13% compared with the industry’s 11.6% growth.
Image Source: Zacks Investment Research
Zacks Rank & Stock to Consider
TotalEnergies currently carries a Zacks Rank #3 (Hold).
Image: Bigstock
TotalEnergies (TTE) to Install 1,100 EV Charge Points in Germany
TotalEnergies SE (TTE - Free Report) announced that it received a contract to install and operate 1,100 high-power charge points for electrical vehicles (EV) in rural and urban areas, with up to 200 kilowatts (kW) capacity.
These charging stations will be arranged in EV hubs at 134 places across eastern, central and western Germany. The electricity used to power these new charging stations will only come from renewable sources.
TotalEnergies will outfit all of its EV charging hubs around Europe with numerous distinctive services, such as sanitary and catering facilities. It will also offer access to several established payment functions in order to guarantee a flawless charging experience for EV drivers.
TTE’s Focus on Electric Mobility
In June 2023, TotalEnergies won a contract to install and operate 500 public charging points with 11 kW capacity for electric vehicles in Berlin that made TTE a significant participant in Germany’s electric mobility. The company has already installed more than 4,500 charging stations across the country.
TotalEnergies supports the growth of electric transportation on a broad scale by investing heavily in EV charging infrastructure. It has already installed 300 EV fast-charging hubs to enable quick charging on highways and in high-traffic areas. TTE plans to have 1,000 sites in Europe by 2028.
With a portfolio of more than 30,000 charge stations operating or being deployed in Paris, London, Brussels, Ghent, Antwerp, Flanders, Amsterdam and its region, Berlin, Singapore and Madrid, the company pursues its deployment in major metropolitan regions across the world.
Growth Prospects
High power charging enables compatible EVs to recharge at a power of more than 50 kW and up to 300 kW. Depending on the vehicle, this amount of electricity may restore a range of nearly 62 miles (100 kms) in 6 minutes and recharge the battery to about 80% capacity in 20 minutes.
Per International Energy Agency (IEA), the use of EVs is going to increase globally and EV sales are set to make up around 65% of total car sales in 2030. EV sales increased 55% in 2022 compared with the 2021 level. IEA expects sales to increase approximately 25% per year during 2023-2030.
A well-organized EV charging network will be necessary due to the enormous rise in EV usage over the next few years, which will also help reduce emissions from vehicles. According to IEA, Germany has more than 12,000 fast charger stock, the highest of its kind.
Along with TotalEnergies, companies like Shell plc (SHEL - Free Report) and BP PLC (BP - Free Report) are also expanding their EV charging operations.
In August 2023, Shell installed high-speed EV chargers at three of its service stations in Singapore. These new EV chargers are the fastest publicly available chargers in the country, with ratings up to 180 kW. According to Shell, these chargers are more than three times faster than the 50 kW chargers at its other stations.
Shell’s long-term (three- to five-year) earnings growth rate is 9.33%. It delivered an average earnings surprise of 10.7% in the last four quarters.
In February 2023, BP announced its plans to invest $1 billion by 2030 in EV charging stations across the United States. Hertz and BP announced their plan to install fast-charging infrastructure at Hertz locations in significant cities. BP has 22,000 charge points around the world and aims to have more than 100,000 by 2030.
BP’s long-term earnings growth rate is 6.51%. It delivered an average earnings surprise of 7.7% in the last four quarters.
Price Performance
In the past six months, shares of TotalEnergies have risen 13% compared with the industry’s 11.6% growth.
Image Source: Zacks Investment Research
Zacks Rank & Stock to Consider
TotalEnergies currently carries a Zacks Rank #3 (Hold).
A better-ranked stock from the same sector is Constellation Energy Corporation (CEG - Free Report) , sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
CEG’s long-term earnings growth rate is 23.3%. The Zacks Consensus Estimate for 2023 earnings per share indicates a 1,216.3% increase year over year.