ChargePoint raises $82 million for buildout of European charging network

ChargePoint, one of the largest electric vehicle charging networks in the world with more than 30,000 charging stations in North America and Australia, has raised $82 million in funding as it eyes expansion across Europe.

The new funding will “support the expansion of the company’s charging network into Europe, enabling the region to complete the shift to e-mobility,” the company wrote

“Daimler is committed to supporting the future of e-mobility with a full ecosystem of connected, autonomous, shared and electric transit solutions,” explained Axel Harries, head of CASE/EVA at Daimler. “ChargePoint is the benchmark in the EV charging space, offering world-class solutions that help to address some of the fragmentation in Europe and accelerate the market’s shift toward e-mobility. As the world leader in EV charging products and services, ChargePoint is the right partner to further our deep commitment to e-mobility as the future of transportation.”

EV sales in Europe are growing faster than anywhere other world market except China partly because the European Union has some of the most aggressive emissions standards in the world. Manufacturers will be unable to meet them without incorporating plug-in hybrid technology into their existing models and offering more pure electric cars.

ChargePoint has recently introduced its high power Express Plus technology — an expandable DC fast charging system that can increase in charging power as the needs of motorists change and grow. “Express Plus is a platform built to support ChargePoint’s vision for the future of DC fast charging: ultra-fast, scalable and incredibly efficient charging that’s conveniently located where drivers need it for long trips,” said Pasquale Romano, CEO of ChargePoint.

“Express Plus charging centers can start small and grow as needed by adding charging capacity without further construction. Together with our commercial and residential charging solutions, Express Plus completes the technology offering required to make fully electric transit a reality.”

The company says its new Express Plus charger “is equipped to charge upcoming EVs such as the Tesla Model 3 (emphasis added) and is ready to deliver maximum charging speed to EVs coming to market in the years to come. A modular platform designed for businesses and charging centers along major roadways or transit depots, Express Plus can deliver up to 400 kilowatts (kW) to an EV, providing the power, speed and scalability necessary to make the future of mobility all-electric.”

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