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EDF reportedly eyeing up bid for Pod Point

Image: Pod Point

Image: Pod Point

EDF is said to be in talks to acquire EV charging provider Pod Point, in a move that would significantly expand its presence in the EV charging market.

First reported by Sky News, the Big Six supplier is allegedly in talks to acquire Pod Point in the latest of many mergers between suppliers and charging companies.

When contacted by Current±, neither EDF or Pod Point confirmed or denied whether talks were taking place. However, Pod Point CEO Erik Fairbairn said in a statement that while he couldn’t comment on any “specific rumours”, the company “regularly explores different ways to finance its expansion and fund its national network of chargers”.

“We’re obviously very excited about the accelerating adoption of electric vehicles in the UK and committed to our vision for travel that doesn’t damage the Earth,” he said.

EDF would not be the first energy retail company to snap up an EV charging provider. In 2018, oil and gas giant BP acquired the UK’s largest charging provider, Chargemaster, taking on its Polar network in a £130 million deal.

Another charging heavyweight, NewMotion, was acquired by Shell in 2017 and French giant Engie picked up ChargePoint Services earlier this year.

EDF has been working steadily on a long list of partnerships in the EV space. In 2018, it partnered Nuuve to offer vehicle-to-grid (V2G) chargers and in June sealed the deal with investment firm NEoT Capital to accelerate its deployment of EV charging infrastructure in the UK.

Under that deal, EDF became NEoT’s preferred partner for EV charging infrastructure and NEoT became EDF’s preferred provider of financing for EVs, batteries and related infrastructure.

Most recently, EDF formed a partnership with Nissan for a wide-ranging EV cooperation agreement looking at V2G technology.

It also has a deal with EO Charging for the provision of home chargers and offers a GoElectric tariff at 8p/kWh and half price evenings and weekends.

Pod Point also provides home charging, as well as commercial and workplace charging. It operates 2,000 public charging bays across the UK and since its formation in 2009 it has manufactured and sold over 40,000 chargers.

Global finance giant Legal & General bought a share in the charging company in March, an investment which Pod Point said it would use to ramp up product development and increase its presence in the UK charging market.

Pod Point has signed deals with Lidl, Tesco and Volkswagon, Mitie, pub chain Fuller’s and construction group Kier, among others.

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