BMW, Daimler, Ford and the Volkswagen Group have announced a joint venture called IONITY which will develop and install a high power charging (HPC) network for electric vehicles across Europe.
The plan will see around 400 stations ready by 2020.
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The automakers said the network would make long distance journeys easier and was an important step for electric vehicles.
The joint venture is based in BMW's home city Munich, Germany, headed by CEO Michael Hajesch and COO Marcus Groll with a team of 50 staff.
"The first pan-European HPC network plays an essential role in establishing a market for electric vehicles. IONITY will deliver our common goal of providing customers with fast charging and digital payment capability, to facilitate long distance travel," said Hajesch.
Twenty stations will be opened this year, on major roads in Germany, Norway and Austria, at intervals of 120km (75 miles) through partnerships with fossil fuel station networks Tank & Rast, Circle K and OMV.
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By GlobalDataDuring 2018, the network will expand to about 100 outlets, each one enabling multiple customers, driving different manufacturer cars, to charge their vehicles simultaneously.
With capacity of up to 350kW per charging point, the network will use the European charging standard Combined Charging System to significantly reduce charging times compared to existing systems, the JV claims.
"The brand agnostic approach and Europe wide distribution is expected to help make electrified vehicles more appealing," it said.
Choosing the best locations takes into account potential integration with existing charging technologies and the JV is negotiating with existing infrastructure, including those supported by the participating companies as well as political institutions.
The investment is said to underline the commitment that the participating manufacturers are making in electric vehicles and relies on international cooperation across the industry.
The founding automaker partners have equal shares in the joint venture while other automotive manufacturers are invited to help expand the network.
