By Cristina Roca 
 

E.ON SE (EOAN.XE) said Tuesday that its grids in Germany could be able to support a complete switch to electric cars by 2045, but that it would need to invest about 2.5 billion euros ($2.79 billion).

The German utility company said that, according to a study it conducted jointly with Consentec, its grids in Germany are well equipped to allow for more electric cars to be recharged, and could even support a complete electrification of passenger cars by 2045. According to the study, E.ON would need to invest about EUR2.5 billion over the next 25 years in order to support 6.5 million cars.

In this scenario, "two thirds of this will be spent on selective construction projects that will hardly be noticeable to the public, such as the renewal of local grid stations," the company said. The other third of the investment would go toward building new power lines, E.ON said.

Write to Cristina Roca at cristina.roca@dowjones.com; @_cristinaroca

(END) Dow Jones Newswires

May 21, 2019 07:12 ET (11:12 GMT)