EDF’s strategy is to become the leading energy company for EVs in Europe.
EDF, a French electric utility company, announced an acquisition of a majority stake in Pod Point, one of the UK’s largest electric vehicle charging companies.
The exact amount of the transaction was not disclosed, but it’s said that it’s EDS’s largest investment in the EV market.
Additionally, the Legal & General Capital (LGC), which previously held 13% of Pod Point, has increased its stake to 23% in the newly-formed joint venture.
“EDF has acquired a majority stake in Pod Point, one of the largest electric vehicle (EV) charging companies in the UK, as part of a newly-formed joint venture with Legal & General Capital (“Legal & General”). The acquisition of Pod Point is EDF Group’s largest investment in the EV market and forms part of its plan to become the leading energy company for electric mobility in France, the UK, Italy and Belgium.”
Since 2009, Pod Point has delivered more than 69,000 charging points, including 62,000 in the UK, 6,600 in Norway (mostly home Level 2 AC units), but the offer includes various solutions up to 150 kW DC fast chargers.
In its home market, the company operates a public network of almost 3,000 charging points.
“It offers charging solutions at home, at work and at destination and has developed an extensive public network connecting EV drivers with almost 3,000 charging bays across the UK, including at Tesco and Lidl shops, Center Parcs and a number of sites across Legal & General’s extensive property portfolio. Its charging points are compatible with all plug-in vehicles and the combination of Pod Point solutions and EDF’s offers will in future mean customers will be able to schedule their charging and benefit from competitive electricity at times when energy costs are lower and there is less demand on the grid.”
“EDF already offers one of the market’s most competitive low-carbon electric vehicle tariffs. “Go Electric” gives customers the chance to lease an electric vehicle while benefitting from lower off-peak electricity rates. The acquisition of Pod Point will allow EDF to offer quality installations of charging solutions as part of even more attractive EV deals.”
The consolidation of charging infrastructure providers is progressing at a rapid speed, as the EDF Group recently acquired also the Pivot Power.
The Pod Point’s competitor in the UK – Chargemaster, was acquired by BP in 2018.
Source: Read Full Article