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Better Place, the electric vehicle infrastructure specialist, and DONG Energy have secured €103 million to put towards an electric car charging network in Denmark.

Under the terms of the agreement, the partners have received equity and convertible debt to roll out a network of charging stations across Denmark. DONG Energy will be the preferred supplier of renewable energy for the network.

The investment will allow Better Place and DONG Energy to aim for their target of a widespread mass-market adoption of electric vehicles to start in 2011. The Renault-Nissan Alliance is planning to commercialise a range of electric vehicles for the Danish market starting in 2011.

Denmark was the second country after Israel to join forces with Better Place to set up an electric car infrastructure.

The Danish government is backing the move, which could help reduce the country’s CO₂ emissions by 17%. Consumers in Denmark can already benefit from zero tax on zero-emission cars – in contrast to a 180% tax on petrol-based vehicles.

For further information:
www.betterplace.com/
www.dongenergy.com/

Related stories:
Better Place signs electric car deal with Ontario (19-Jan)
Japan to work with Better Place on electric vehicles (11-Dec)
Hawaii signs up to electric car network (4-Dec)