EDF plugs in to UK EV charging market with Pod Point deal

EDF has acquired a majority stake in Pod Point, one of the largest electric vehicle (EV) charging companies in the UK, as part of a newly-formed joint venture with Legal & General Capital. The Pod Point acquisition is EDF Group’s largest investment in the EV market to date and forms part of its plan to become the leading energy company for electric mobility in France, the UK, Italy and Belgium.

Founded in 2009, Pod Point is a major provider of charging infrastructure for EVs and has rolled out 62,000 charging points in the UK and a further 6,600 in Norway. It offers charging solutions at home, at work and at destination, and has developed an extensive public network connecting EV drivers with almost 3,000 charging bays across the UK, including at Tesco and Lidl shops, Center Parcs and a number of sites across Legal & General’s extensive property portfolio. Its charging points are compatible with all plug-in vehicles. The combination of Pod Point solutions and EDF’s offers will in future mean customers will be able to schedule their charging and benefit from competitive electricity at times when energy costs are lower and there is less demand on the grid.

Transport has the highest carbon emissions of any industry sector. EDF data suggests that a low carbon grid, featuring new renewables and nuclear, and switching the 32mn petrol and diesel cars on UK roads to electric, would avoid 65mn tonnes of CO₂, shrinking the UK’s overall carbon footprint by more than 10%.

EDF claims to already offer one of the market’s most competitive low carbon EV tariffs. ‘Go Electric’ gives customers the chance to lease an EV while benefitting from lower off-peak electricity rates.

The deal follows EDF Group’s acquisition of Pivot Power last year, which specialises in grid-scale batteries and provides high voltage power infrastructure required for rapid EV charge-points.

Photo: Edf/Pod Point