EV charging provider Pod has just bought up a rival provider that went bust in April in a move that will boost its fleet capabilities.
EO Charging went into administration in April despite having captured a large share of the fleet charging market with customers including Amazon, DHL and Tesco and a smattering of bus companies. Pod claims this deal now makes it the UK’s largest charging provider when combining its existing home, public and workspace charging solutions with the newly added large-scale fleet charging.
The acquisition has been a timely move from Pod as fleet electrification has become one of the fastest growing areas of the UK EV market, aided by government funding and tighter emissions regulations. Operators would have been left high and dry with the demise of EO Charging.
EO Charging brings depot charging software and fleet energy management into the Pod portfolio, which the company hopes to combine with its own smart charging and energy management tech in a bid to overcome some of the major challenges of fleet charging. Such challenges include limited grid availability and resulting long connection wait times.
Pod wants to use its charging expertise to help fleets improve their charger access and reduce the strain on the grid by charging overnight at depots when overall demand is lower. Smart charging will also help companies reduce their costs by charging at the cheapest periods.
The deal also strengthens Pod’s relationship with energy provider EDF, with the company’s UK retail boss Philippe Commaret stating that the acquisition will allow Pod to “help vehicle fleets benefit from electrification, improving their efficiency while also reducing their carbon emissions.” Pod says existing EO Charging customers will continue to receive “stable and uninterrupted service” following the acquisition.
