BERLIN—BMW AG, Daimler AG and Volkswagen AG said Tuesday they plan to build together with Ford Motor Co. a network of hundreds of ultrafast, high-powered charging stations for electric cars in Europe.

The auto makers have signed a memorandum of understanding to start building stations next year that will make charging cars significantly faster than is possible with even the most powerful charging systems deployed presently. The initial target for the joint venture is to equip about 400 sites with power levels of up to 350 kilowatts.

By 2020, customers should have access to thousands of high-powered charging points, according to BMW. The goal is to enable long-distance travel through charging stations along highways and major thoroughfares.

Write to Friedrich Geiger at friedrich.geiger@wsj.com

(END) Dow Jones Newswires

November 29, 2016 09:05 ET (14:05 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.
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