Factbox: Big investors spur consolidation, growth in EV charging sector

Blink Charging

13/12/2023 06:00

Dec 13 (Reuters) - Big companies in Europe, North
America and Asia are investing in the fast-moving global EV
charging industry, according to a Reuters analysis.
    That sector is undergoing rapid consolidation, with at least
85 companies being acquired since 2017.
    Many charging companies are being gobbled up by big energy
companies such as Shell  SHEL.L , Statkraft  STATKF.UL , EDF, BP
 BP.L , Total  TTEF.PA  and Engie  ENGIE.PA ; hardware companies
such as ABB  ABB.UL  and Schneider Electric  SCHN.PA , and other
charging companies, including Blink  BLNK.O , ChargePoint
 CHPT.N  and Charge Enterprises  CRGE.O .
    A number of large-cap corporations, notably BP, Shell, ABB,
Siemens  SIEGn.DE  and SK  034730.KS , also have invested
heavily in EV charging startups, as have automakers Volkswagen
 VOWG_p.DE , BMW  BMWG.DE , Mercedes-Benz  MBGn.DE , Hyundai
 005380.KS  and Geely's  0175.HK  Volvo Cars.
    The VW Group’s investment portfolio in the sector includes
Electrify America, Ionity, Hubject, has.to.be, Go To-U,
ChargeSmith, EcoG and PowerShare.
    Large asset managers BlackRock, Fidelity and Wellington
Management also have stakes in several charging companies.
BlackRock is backing  EVgo, Ionity, Jolt Charge, Freewire and
Volta Charging.

 (Reporting by Paul Lienert in Detroit; Editing by David
Gregorio)
 ((Paul.Lienert@thomsonreuters.com; mobile +1 313-670-2452;))