May 5, 2017 / 9:48 AM / in 3 months

BMW e-mobility executive to join energy group Innogy

Innogy logo in Essen, Germany, March 14, 2017. Reuters/Thilo Schmuelgen -

FRANKFURT (Reuters) - Innogy (IGY.DE), Germany's No.1 energy group, has poached a key executive from carmaker BMW (BMWG.DE) to bolster its e-mobility business, the latest sign that the sectors are getting closer ahead of an expected boom in demand for electric vehicles.

Stefan von Dobschuetz, General Manager for BMW's i brand, will join Innogy on May 8 and share responsibility for the power firm's e-mobility unit with Elke Temme, who has been heading it since its inception at the beginning of the year, Innogy said.

Innogy, which is majority-owned by utility RWE (RWEG.DE), operates a network for more than 5,700 charging points and hopes to become the supplier to a group of carmakers that plans to install super-fast charging stations across Europe.

"Innogy believes e-mobility is a mega-subject both in Germany and internationally," Chief Executive Peter Terium said in a statement on Friday.

"If we want to achieve our ambitious climate protection goals, we need a transition in the area of transport in addition to the energy transition."

The appointment underscores the growing cooperation between carmakers and utilities, both banking on growing uptake of electric vehicles around the world, and the business models that it potentially creates for both industries.

Dobschuetz, who began his career at Boston Consulting Group before moving to BMW, will be in charge of retail at Innogy's e-mobility unit, including business development and contract administration.

Reporting by Christoph Steitz; Editing by Georgina Prodhan

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