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Electric vehicle recharging: Driveco raises EUR 250 million

Driveco is raising €250 million from APG to expand from 8,000 to 60,000 electric vehicle charging points by 2030, targeting retailers such as Carrefour, hotels, schools and hospitals.

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French electric vehicle charging specialist Driveco has raised €250 million from Dutch pension fund APG to expand from the current 8,000 charging points to 60,000 by 2030, Le Figaro reported Tuesday. Driveco, which developed its first charging stations in 2014 at solar power producer Corsica Sol, went independent in 2016, selling turnkey charging solutions to parking lot owners.

The start-up initially provided the installation, operation and maintenance of the terminals, with owners taking the risk of the investment, before changing the model in 2020 to become the owner of its terminals, the daily reports.

Profitable since 2019, Driveco employs 100 people and currently has 8,000 charge points in operation or being deployed, in France and Belgium. Its goal is to reach 60,000 by 2030, including Germany, Spain, Italy, the Netherlands and Switzerland, according to Le Figaro.

“One of our big targets is the distributors who are big landowners” like Carrefour, told the newspaper the general manager Ion Leahu-Aluas. “We’re also looking at hotels, logisticians, schools, hospitals, companies that want terminals for their employees,” he added.

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