The power utility PPC aims to have captured a 40 percent market share of electricity sales for electric vehicles by 2040 through the installation of over 600 recharging stations at various points – including alongside highways, at petrol stations, shopping centers, parking lots and hotels – as well as through sales of more than 58,000 charging systems to households, professionals and companies, according to a business plan prepared by the power utility for 2019 to 2040.

Total electricity sales in the auto market are expected to exceed two billion euros by 2040, while turnover, for the entire sector, is projected to reach 4 billion euros in 20 years’ time.

Over the next two decades, the country’s fleet of electric cars is seen growing to 500,000 from just 580 registered in 2018, the PPC business plan notes.

This drastic rise in numbers promises to generate new business opportunities as the trend combines a rise in electricity demand, recharging infrastructure development and greater utilization of renewable energy sources.

Investments of 2.5 million euros will need to be made between 2019 and 2025 for the installation of 275 recharging systems, according to the PPC business plan.