(Bloomberg) --

Enel SpA, Italy’s largest utility, plans to dramatically boost its electric mobility business in the next decade, installing 4 million charging stations worldwide from the current 180,000, Chief Executive Officer Francesco Starace said in an interview with daily Corriere della Sera on Sunday.

“Our role is to act alongside car manufacturers in order to understand how to set up our whole network to make use of cars and recharge as efficiently as possible,” Starace said. The company unveiled its new business strategy in November but plans to update it as early as this fall to reflect stimulus to Italy from the European Commission’s coronavirus recovery fund, Starace added.

Enel is committed to transitioning to renewable energy in Italy and also plans to decarbonize Sardinia, Starace told Bloomberg TV earlier this month.

Enel shares have fallen about 3% this year, valuing the company at 81.8 billion euros ($96 billion)

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