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$75.78 1.5  2.0%

Last Trade - 08/05/18

Large Cap
Market Cap £15.46bn
Enterprise Value £17.25bn
Revenue £4.89bn
Position in Universe th / 6846

ChargePoint partners with TSG as part of European expansion

Thu 9th November, 2017 2:53pm
FRANKFURT, Nov 9 (Reuters) - ChargePoint, a U.S. maker and 
operator of electric vehicle charging stations, said on Thursday 
it struck a deal with petrol station service group Technical 
Services Group (TSG), marking the latest step in the group's 
European expansion efforts. 
    Through the deal, ChargePoint hopes to draw on TSG's strong 
presence on the continent, where the France-based company 
provides maintenance services to about 32,000 petrol stations 
and is also active in their construction. 
    Privately-held TSG, formerly part of Tokheim before it was 
sold to U.S. industrial conglomerate Dover  DOV.N  last year, 
supplies equipment and services to the fuel distribution 
industry in Europe and Africa. 
    The cooperation, which is aimed at business clients, will 
cover site construction, installation and maintenance of 
electric vehicle charging stations, which are expected to grow 
in number as carmakers shift toward battery-powered vehicles.  
    Power utilities, tech start-ups and oil majors are all 
fighting to establish themselves as the dominant players in this 
fast-growing part of the e-mobility industry.*:nL8N1LF39T 
    "This partnership is a key lever in developing our European 
roll-out," Christopher Burghardt, ChargePoint's European 
managing director who previously worked for embattled 
ride-hailing group Uber  UBER.UL , told Reuters.*:nL8N1MS37G 
    ChargePoint supplies charging hardware and software used to 
connect outlets. It owns no re-charging stations of its own but 
works like an Airbnb or Uber to create a network of locations 
and schedule bookings at available charge points. 
    Counting BMW  BMWG.DE , Daimler  DAIGn.DE  and Siemens 
 SIEGn.DE  among its owners, ChargePoint has recently raised 
$125 million to expand outside its home market in the United 
States and into Europe.*:nL8N1LB33C 
    Initially, the partnership between ChargePoint and TSG will 
cover France, Germany, Ireland, Netherlands and Britain, with 
the opportunity to expand across Europe, ChargePoint said. 
    "Many businesses are eager to be part of the future of 
mobility as more drivers choose EVs and cities and countries 
encourage electrification, and we're excited to be able to help 
them," TSG Chief Executive Baudouin de la Tour said. 
 (Reporting by Christoph Steitz; Editing by Adrian Croft) 
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