DUSSELDORF – BP, Volkswagen and ETR (NYSE:), on Thursday presented details of an electric vehicle charging partnership. The alliance aims to create 8,000 fast-charging points across Europe by 2024. This is in order to boost demand for the battery-powered automobiles.

In the initial phase of the partnership which was unveiled at Volkswagen Power Day in March 2021 4,000 charging points were installed in BP Aral and BP retail stores in Britain. This will be for the 24 month period.

The companies revealed the first charger in their collaborative initiative at Dusseldorf, Germany, and said that up to 8,000 spots will be made available by the end of 2024.

These fast-chargers have 150 kilowatts (kW) of power. They can provide a significant charge for around 160km (100 mi) in less than 10 minutes.

Bernard Looney, Chief Executive at BP stated that EV charging “is one of the major engines driving BP’s transformation into an integrated energy company.” “When you bring together one of the world’s leading car makers and one of the world’s leading energy companies – the opportunity is huge.”

Volkswagen has similar partnerships in charging with Spain’s Iberdrola and Italy’s Enel (BIT): aims at overtaking Tesla (NASDAQ), the world’s biggest EV seller.

Volkswagen and BP agreed that they would pursue additional opportunities to work together in the future to create lower-carbon mobility solutions.

Thomas Schmall (VW’s chairman in charge of technology), stated that rapid expansion is essential now. Because of their flexibility and speed, the installation costs are low, they offer an ideal solution.