France’s EDF Aims to Become the Biggest Player in the Electric Vehicle Charging Market

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Electric Vehicle Charging

EDF aims to provide power supply to 600,000 electric vehicles in 3 years by 2022.bo

A statement by the Électricité de France (EDF) the French state-owned utility said that the company was looking to target a 30% market share in the market of electric vehicle charging in countries such as France, United Kingdom, Italy, and Belgium Although the market is potentially lucrative, it is a highly competitive sector.

EDF is anticipated to face stiff competition from other power utilities, a number of tech start-ups and some oil industry players, all of whom are working to set themselves up as the major players in this rapidly growing business. EDF anticipates that, of all the new vehicles being sold by the end of 2030 in Europe, electric vehicles (EV) comprise 30% of all sales.

The company aims to set up 75000 electric vehicle charging stations, through its Sodetrel Unit by 2022. In addition, EDF also anticipates to provide consumers in Europe with 250000 charging terminals that are to be operated by various other service providers.

Currently, Sodetrel operates 5,000 electric vehicle charging stations within France and also gives consumers across Europe with access to 60,000 charging points. Although it is not clear how much revenue EDF expects to accrue, Sodetrel stated that it had witnessed a year over year growth of 50% over the past 3 years.

Sodetrel maintains and operates a vast public vehicle charging network within major cities such as Marseille, Paris, and Grenoble in addition to a number of areas in northern France. It has also partnered with popular car park operator Indigo, and various retailers such as Auchan, IKEA and Paris airport company ADP, among others.

The plan to provide charging facilities electric vehicle plan is EDF’s third biggest investment in renewable energy, following a 25 billion euro ($29 billion) investment into solar power which was declared in December 2017 and another massive investment of eight billion Euros in power storage facilities during March 2018.

EDF has stated that it has collaborated with a vast number of EV charging specialist companies, including Californa-based firm – Nuvve, which brings together the power from electric vehicle batteries when parked, and also Ubitricity of Germany, which modifies streetlights to also work as charging points. EDF also has collaborated with prominent car manufacturers Toyota and Renault for technology and research, and is also partnered with car parts maker Valeo.

Summary:

Électricité de France (EDF) the major French state-owned utility company aims to hold control over 30% market share in the electric vehicle charging, in major cities across Europe.