Finland, Kempower to get 10 million euros in funding: plans to boost heavy-duty electric mobility

Business Finland has granted 10 million euros in funding over 5 years to Kempower’s Heavy Electric Traffic Ecosystem program in a challenge competition for leading Finnish companies. Kempower’s Heavy Electric Traffic Ecosystem program aims to develop charging technology suitable for heavy-duty vehicles, especially long-haul trucks, along with supporting software platforms and charging infrastructure testing platforms. The program also investigates future charging models and the impact of heavy traffic charging infrastructure on power grids.

Kempower aims to grow the ecosystem for heavy electric traffic, and as the leader for the program, Kempower is seeking over 60 partner companies to join the ecosystem. Additionally, Business Finland has allocated 20 million euros to finance ecosystem partners’ projects.

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Kempower’s forecasts on the future of electric trucks

Kempower estimates that truck charging will rapidly take off and will become the most significant DC charging application by 2030. Kempower estimates that the DC charging market of commercial vehicles will grow to approximately 9.1 billion euros in Europe and North America by 2030.

“There is still a lack of scalable DC charging infrastructure for heavy traffic, especially long-haul trucks. The growth of electric trucks requires charging infrastructure that meets practical needs. The development of the charging ecosystem is essential because the trucks must constantly move, and electric trucks with cargo cannot wait in queue for charging,” commented Tomi Ristimäki, CEO of Kempower. “The funding received from Business Finland gives a great boost for Kempower’s Heavy Electric Traffic Ecosystem program. We now have excellent resources to stay at the forefront of fast charging for heavy traffic and to bring new solutions to our customers quickly”.