ChargePoint Holdings Inc (NYSE: CHPT) and ALD Automotive have announced an international agreement to create a new electric mobility service provider (eMSP) for corporate fleets. This collaboration is set to accelerate electrification initiatives across Europe.
ChargePoint is a technology company providing access to over 485,000 charging ports across Europe and beyond, allowing drivers to keep their electric vehicles powered with a single charging app and card. ALD Automotive is a French-based fleet management service provider with a mission to facilitate the energy transition to sustainable mobility and reduce climate impact.
The new business seeks to create a comprehensive charging solution for corporate fleets, providing drivers with simple access and payments, and creating reimbursement reports. Through this agreement, ALD Automotive will be able to increase their value proposition by taking additional stakes in the eMSP.
Pasquale Romano, CEO of ChargePoint, shared feelings of excitement around the development: “By working together, ChargePoint and ALD Automotive will enable more businesses and drivers frictionless access to simple and reliable charging, opening up the millions of lease company controlled vehicles in Europe to the EV revolution.”
Tim Albertsen, CEO of ALD, shared his views on the expansion of green technology for mobility, stating “This new venture allows ALD Automotive to take an additional stake in the EV ecosystem value chain while further advancing Green Tech for mobility.”
The eMSP will be based at the Paris area, with its start-up in France and the Netherlands planned for the fourth quarter of 2023; with its roll-out in 8 other European countries planned for 2025.
At the moment, shares of CHPT are seeing traders trading them itself 1.12% higher in pre-market trading on Tuesday. Day-to-day stories suggest that investors are beginning to recognize the potential of the new business.
ChargePoint is a privately owned, US-based technology company providing intelligent solutions for a stronger, cleaner, and more connected world. Established in 2007, it has a strong network of customers, partners, and investors, each actively shaping the future of electrification globally.
Pasquale Romano is the CEO and Chairman of ChargePoint. He has been integral in driving the company’s success, as well as its vision of creating a future of mobility powered by clean energy. His experience as a seasoned executive gives depth to the company’s leadership.
ALD Automotive is one of the world’s leading vehicle leasing and fleet management companies, with operations across more than 45 countries. It provides Integrated corporate fleet services, such as operational leasing, fleet management and vehicle acquisition, among others. ALD looks to enable ground-breaking strategies for its customers, and help them in their ambition to achieve an ever more sustainable portfolio of vehicles.