Swedish utility plans to change car fleet to fully electric

Markets Associated Press

Swedish energy company Vattenfall says it will switch its car fleet to electric vehicles in about five years.

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The state-owned company says that more than 3,000 passenger vehicles in Sweden, Netherlands and Germany will be replaced by electric "alternatives" over the next five years, adding that it plans to be "climate neutral by 2050."

However, the utility acknowledged Monday that the deal depended on consumers' reception of the idea of using electric vehicles.

Vattenfall said it will gradually change its fleet to electric — 1,700 vehicles in Sweden, 1,100 in Germany, 750 in Netherlands — but added that "development of the market for electric vehicles will be crucial for this ambition to be met."