The UK’s largest EV charging station provider has bought out a competitor and announced £15 million of investment.
Chargemaster’s acquisition of Elektromotive and its subsidiary, Charge Your Car, means the company now manages more than 5,000 charging points throughout the UK.
It plans to invest in another 2,000 charging locations, as well as to introduce contactless credit card payments, Automatic Number Plate Recognition (ANPR) and 250 rapid ‘ Ultracharge’ units.
It also hopes to install a network of wireless charging units in the next two years to support new cars coming to the market with this feature. The technology means the car only has to be driven onto an ‘inductive charging pad’ to begin refuelling automatically.
David Martell, Chief Executive of Chargemaster, said: “The acquisition is a major milestone in the company’s expansion plan. It is widely expected that within the next 10 years, around 50% of new cars sold will be electrically powered.
“Chargemaster is investing heavily to ensure that the UK is fully equipped to deal with this new generation of motoring and that it has the most robust, reliable and available charging network in the world.”
The company recently signed a two-year contract to keep batteries topped up at Formula E, the all-electric racing championship.