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ALD Automotive and ChargePoint Create New EV Charging Business to Accelerate Electrification
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Very Positive)
Tags
Rhea-AI Summary
ALD Automotive has partnered with ChargePoint Holdings (NYSE: CHPT) to launch a new electric vehicle (EV) charging business in Europe. This initiative aims to enhance corporate fleet electrification by offering a unique electric Mobility Service Provider (eMSP) that simplifies charging access for corporate clients. Powered by ChargePoint's technology, the service will feature a network of over 485,000 charging ports and provide consolidated reporting for fleet managers. Headquartered in Paris, the eMSP is set to launch in Q4 2023, starting in France and the Netherlands, with plans to expand to eight European countries by 2025.
Positive
Partnership to create a new EV charging business aimed at corporate clients and fleet electrification.
Access to over 485,000 charging ports across Europe.
Consolidated reporting solution for fleet managers to control charging expenses.
Headquarters in Paris with a launch planned for Q4 2023.
Negative
None.
PARIS--(BUSINESS WIRE)--
ALD Automotive, a leading global sustainable mobility player, has signed an international agreement with ChargePoint Holdings, Inc. (NYSE: CHPT), a leading electric vehicle (EV) charging network, to create a new EV charging business in Europe for international and local corporate clients. The joint initiative aims to create a unique electric Mobility Service Provider (eMSP) to accelerate corporate fleet electrification.
The joint initiative between ALD and ChargePoint aims to create a unique electric Mobility Service Provider (eMSP) to accelerate corporate fleet electrification. (Photo: Business Wire)
Powered by ChargePoint’s best-in-class technology, the new charging business will provide drivers of corporate fleets with one simple charging solution for easy access, payments and reimbursement reports. Drivers will access a charging network of over 485,000 charging ports across Europe, with a single dedicated app and charging card offering charging at home, in the office or on the road.
To control and monitor charging expenses, fleet managers will benefit from a unique, consolidated reporting and invoicing solution that provides an overview of all charging costs. Public, workplace, depot and home charging costs will be provided in one single dashboard to enable further control over the full eco-system in a unique and holistic manner. This is particularly relevant for fleet managers who manage their EV fleets through multi-leasing companies and charging wall box providers.
This new EV charging business for fleets is a reinforcement of the partnership between ALD Automotive and ChargePoint who have been working closely since 2019 together to offer a comprehensive portfolio of bundled leasing and charging services.
The eMSP will be headquartered in Paris region with go live expected in the final quarter 2023, starting in France and the Netherlands and followed closely by Belgium and Germany, with subsequent roll-out in 8 European countries* by 2025. The parties expect that the new business will be progressively extended to further geographies over time, as well as to small and medium companies, leasing companies and private individuals, in addition to carbon brokerage services (vehicle to grid, carbon credits…) in the medium term.
“With this agreement, we are expanding our relationship with ALD Automotive, and enabling more businesses to electrify their fleets,” said Pasquale Romano, CEO of ChargePoint. “Together, ChargePoint and ALD Automotive will enable more businesses and drivers frictionless access to simple and reliable charging, opening up the millions of lease company controlled vehicles in Europe to the EV revolution."
“With ChargePoint, our goal is to simplify and facilitate access to EV charging services for corporate fleets. This new venture allows ALD Automotive to take an additional stake in the EV ecosystem value chain while further advancing Green Tech for mobility,” confirms Tim Albertsen, CEO of ALD. “We believe that this unique charging value-proposition for fleets will be a game changer in accelerating the adoption of electric vehicles. With one of the largest multi-make fleets of electric vehicles worldwide, we take our responsibility of facilitating the energy transition seriously and are set on making sustainable mobility a reality.”
*Italy, UK, Sweden, Spain, Austria, Denmark, Finland and Norway
About ChargePoint
ChargePoint is creating a new fueling network to move people and goods on electricity. Since 2007, ChargePoint has been committed to making it easy for businesses and drivers to go electric with one of the largest EV charging networks and a comprehensive portfolio of charging solutions. The ChargePoint cloud subscription platform and software-defined charging hardware are designed to include options for every charging scenario from home and multifamily to workplace, parking, hospitality, retail, and transport fleets of all types. Today, one ChargePoint account provides access to hundreds of thousands of places to charge in North America and Europe. To date, more than 158 million charging sessions have been delivered, with drivers plugging into the ChargePoint network on average every second. For more information, visit the ChargePoint pressroom, the ChargePoint Investor Relations site, or contact the ChargePoint North American or European press offices or Investor Relations.
Forward Looking Statement
This press release contains forward-looking statements that involve risks, uncertainties, and assumptions including statements regarding the expected benefits and timing of the launch and expansion of the eMSP and future integrations between ChargePoint and ALD Automotive. Any statements that are not of historical fact may be forward-looking statements. Words used such as “anticipates,” “believes,” “continues,” “designed,” “estimates,” “expects,” “goal,” “intends,” “likely,” “may,” “ongoing,” “plans,” “projects,” “pursuing,” “seeks,” “should,” “will,” “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these words. All forward-looking statements contained in this press release, including the occurrence, timing, release and expansion of the expected eMSP service, any integration of the ChargePoint charging network with the new eMSP service or any other services offered by the new EV charging business and any expected benefits of the eMSP, especially to fleet managers, as a result of the proposed eMSP service and further integrations between ChargePoint and ALD Automotive are based on ChargePoint’s current assumptions, expectations and beliefs, and involve substantial risks and uncertainties that may cause results, performance or achievement to materially differ from those expressed or implied by these forward-looking statements, including that the eMSP service may never go live, be expanded to new geographies or achieve the full operational potential that ChargePoint and ALD expect. Further information regarding other risks and uncertainties are included in the filings by ChargePoint Holdings, Inc., made from time to time with the U.S. Securities and Exchange Commission. ChargePoint makes these statements as of the date of this press release, and ChargePoint undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required under applicable law.
About ALD Automotive
ALD Automotive is a global leader in mobility solutions providing full-service leasing and fleet management services across 44 countries to a client base of large corporates, SMEs, professionals and private individuals. As a leader in its industry, ALD Automotive places sustainable mobility at the heart of its strategy, delivering innovative mobility solutions and technology-enabled services to its clients, helping them focus on their everyday business. With 7,050 employees around the globe, ALD manages 1.81 million vehicles (at end-December 2022).
ALD Automotive is listed on Compartment A of Euronext Paris (ISIN: FR0013258662; Ticker: ALD). Societe Generale is ALD Automotive’s majority shareholder.
What is the partnership between ChargePoint and ALD Automotive about?
ChargePoint and ALD Automotive have signed an agreement to launch a new electric vehicle charging business in Europe, focusing on corporate fleet electrification.
When is the new EV charging service expected to launch?
The new EV charging service is expected to go live in the final quarter of 2023.
How many charging ports will the new service provide access to?
The new service will provide access to over 485,000 charging ports across Europe.
Which countries will the charging service initially cover?
Initially, the charging service will start in France and the Netherlands.
What benefits will fleet managers gain from this new business?
Fleet managers will benefit from a unique reporting and invoicing solution that offers an overview of all charging costs.
