Driveco, a French electric vehicle charging company, has announced a new funding round of €250 million from APG, a Dutch pension fund manager. The investment will be used to enhance the company’s position in France and Europe. Driveco, established in 2010, operates the second-largest network of public electric vehicle charging stations in France and Belgium. While initially focusing on third-party charging stations, the company shifted its focus to developing its own charging points in 2020. Currently, Driveco has 8,000 charging points in operation or under construction. The funding will support three main areas: strengthening territorial presence, expanding internationally, and consolidating technological innovation. Driveco’s goal is to establish more than 60,000 charging points across seven European countries by 2030, facilitating the charging of over 1.2 million vehicles annually and preventing 3 million tonnes of CO2 emissions each year.
Ion Leahu-Aluas, CEO of Driveco, said:
“This fundraising round marks a new chapter of growth for Driveco, supported by APG, a renowned and experienced international investor. To tackle the climate emergency, it is essential to decarbonize the transportation sector by promoting the widespread adoption of electric cars. With more than 10 years of experience in the electric charging sector, our goal is to act as a catalyst for the energy transition by responding to the urgent need for infrastructure development, notably electrification.”
Arjan Reinders, Head of Infrastructure Europe at APG, said :
“Driveco has an outstanding track record and is well positioned to become a key contributor to the electric vehicle charging infrastructure sector in France and neighbouring European countries over the coming years, leveraging its operating excellence and customer-focused approach. We intend to support Driveco’s growth by investing capital and support the Company’s continuous efforts towards achieving best-in-class Environmental, Social, Governance (ESG) standards.”