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Electric car charging point firm Zunder secures 225 mln euro Santander loan

Zunder, a business establishing charging points for electric vehicles across Europe, has secured a 225 million euro ($ 242.9 million) loan from Spanish bank Santander, the business said on Wednesday.

WHY IT MATTERS

Governments all over the world are promoting electrical lorries to protect the environment and cut greenhouse emissions. However, chauffeurs typically complain about an absence of charging points on roads and highways.

SECRET PRICES ESTIMATE

This agreement with Santander represents a key step in our dedication to expanding electrical cars in Europe and a boost to our development technique, both in the Spanish and European markets, Zunder CEO Daniel Perez stated.

We are really happy that an entity like Santander trusts our job, giving us the biggest syndicated financing signed to date in the electrical movement sector, he included.

THE NUMBERS

European vehicle market body ACEA stated in April that the European Union needed to set up nearly eight times more electrical automobile charging points annually than it carried out in 2023 to fulfill demand.

Zunder said its 225 million euro loan would assist fund plans to set up more than 3,000 brand-new charging points in European nations such as France, Portugal and Italy.

(source: Reuters)