German automaker BMW is planning to acquire 2% share in the UK-based electric vehicle (EV) charging station provider Chargemaster.
The agreement is expected to be officially announced on 29 July 2013 prior to the launch of BMW's i3 EV.
Value of the deal is estimated to be about GBP500,000, according to the Britain's Sky News.
Chargemaster designs, manufactures and markets charging stations to be used in domestic, commercial and public places, while it also offers software, installation and maintenance services.
In 2012, the EV charging station provider had delivered over 2,800 charging points, generating revenue of GBP3.6m.
Earlier, the Chargemaster had announced its intention to raise funds and seek admission of its shares to trading on the AIM market of the London Stock Exchange.
By 2020, the EV charging point provider is planning to deliver major part of about 800,000 charging points that are expected to be installed under a ruling of the European Commission.
