Statkraft, a hydropower company, fully owned by the Norwegian state, agreed to acquire the UK electric vehicle business of Vattenfall, a Swedish multinational power company. Financial terms were not disclosed. "Statkraft has ambitious growth plans and ambitions to contribute to the transition to a renewable energy powered transport sector in the UK. Long term investment into the UK market is a key part of our strategy. Electric vehicles will change the power industry in Europe, and to achieve an emission free transport sector, renewable energy must be used to charge electric vehicles," David Flood, Statkraft Managing Director.