EDF has acquired a majority stake in UK electric vehicle firm Pod Point. Under terms of the transaction, Legal & General, which held a 13 per cent stake in the company, will increases its share to 23 per cent.
Pod Point has one of the UK’s largest charging networks, with customers including Tesco and Lidl.
CEO and founder, Erik Fairbairn, said selling to EDF means “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.”
Fairbairn told The Energyst last month that the UK is approaching an electric vehicle tipping point. He believes 2020 will deliver “stratospheric growth” in EV car sales.
The deal has been months in the making and marks a significant milestone in EDF’s push to become a leader in e-mobility.
While parts of the power industry, including National Grid, believe UK infrastructure can handle an EV boom without a significant increase in generation capacity, EDF’s UK CEO Simone Rossi, offered a different view.
“The additional electricity demand from EVs will require urgent investment in low carbon generation from renewables and nuclear,” he stated.
Free B2B electric vehicles and charging infrastructure event
Speakers from EDF and Pod Point are among a host of experts taking part in panel sessions at The Energyst’s EV Event, 22-23 April, Silverstone. The business-to-business conference and exhibition is free to attend and delegates can drive electric vehicles from Jaguar Land Rover, and hopefully one or two other major OEMs, around the track.
Confirmed speakers and sponsors include:
Arup | Arrival | Arval | Birmingham Airport | BP Chargemaster | BT | Bristol City Council | Cenex | Connected Energy | EDF | Engenie | Gnewt | Jaguar Land Rover | Liberty Global | Low Carbon Vehicle Partnership | Mitie | National Grid | Nottingham City Council | Nuvve | Octopus | Pod Point | Royal Mail | UK Power Networks | UPS | Total | Volvo | Western Power Distribution and more.