Charging point manufacturer Pod Point acquired by EDF
14 February 2020
Author: Illya Verpraet
EDF, one of the 'big six' electricity providers in the UK, has acquired a majority stake in Pod Point, which manufactures home and public electric vehicle chargers.
The acquisition is happening as part of a joint-venture between EDF and financial services firm Legal & General Capital.
EDF already offers an electricity tariff with electric cars and plug-in hybrids in mind. The obvious benefit of the acquisition for EDF is that it can now also offer the installation of a home charger. Whether it will become more expensive or difficult for customers of other energy providers to use Pod Points or have them installed remains to be seen.
Erik Fairbairn, Pod Point CEO and founder said: "This is an incredibly exciting next chapter for Pod Point. By joining up with EDF we can take things to the next level and accelerate our national roll out of charging points and make it even easier for drivers across the UK to go electric. I'm immensely proud of what the Pod Point team has already achieved but think it is only a fraction of what we will now be able to do with EDF. We just took a big step forward in being able to deliver against our mission!"
Simone Rossi, UK CEO of EDF said: "Electric vehicles will be crucial in reducing the UK's carbon emissions and fighting climate change. With the addition of charge points, we can help our customers to reduce their carbon footprints and benefit from lower fuel costs by going electric. The additional electricity demand from EVs will require urgent investment in low carbon generation from renewables and nuclear."