Available in the second quarter of this year, ABB’s Terra Smart Connect (SC) unit will be priced at £8,989 for small volume orders and can fully charge most electric vehicles in 30 to 120 minutes. It’s also suitable for top-ups, capable of recharging a battery from 30% to 80% in under half an hour.

ABB said this makes the unit ideal for use in company car parks, and for rental companies and meeting places. It costs around half the price of most rival models and doesn’t require an upgraded grid connection, using a common three-phase 32A input.

‘The launch of the Terra SC demonstrates our commitment to deliver the optimal charging solution for every possible location in the network – both in terms of functionality and affordability,’ said Hans Streng, senior vice president and general manager of ABB’s product group EV Charging Infrastructure.

‘With its breakthrough price, low commissioning costs, easy installation and smart design features, the Terra SC creates a much more compelling case for installing EV fast chargers at many more locations throughout Europe – providing a strong boost to the development of electric mobility.’

ABB sees charging infrastructure as a growing market, due to be worth $1bn by 2017. The company recently gained a contract to install 200 fast chargers across Estonia, and is working with working with Nissan and General Motors to develop end-of-life storage units to reuse battery packs from the LEAF and Ampera/Volt.

The company is also attending the Fleet World EV and Low CO2 Fleet Show on 18th April at Silverstone Circuit in Northamptonshire.