Boost for electric vehicle charging provider

Boost for electric vehicle charging provider

French investment firm Meridiam has bought the European electric vehicle (EV) charging solution provider Allegro.

In a statement published on Thursday (31 May), Meridiam explained why it decided to make the investment: “The EV market is expected to grow in an exponential manner in the upcoming decade. In Europe in 2030, 30-40% of new car sales are expected to be electric vehicles. The industry has entered a virtuous circle that will help communities to tackle climate change as well as reduce local pollution.

“This growth will require innovative but robust solutions to offer end-users certainty in accessing state-of-the-art charging solutions and to manage grid impact. Allego has been able to develop a high level of expertise and capabilities in all EV-related infrastructure (charging at home, at work, at public spaces, along highways, as well public transport) that will prove critical to unlock the European electric mobility market.”

The Meridiam statement added: “Meridiam and Allego will continue to develop jointly the Mega-E (Metropolitan Greater Areas Electrified) project. This European Commission-backed project aims at deploying 322 Ultra-fast Charging locations including 39 multimodal smart charging hubs in at least 10 European metropolitan areas.”

 

 

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