Chargemaster buys Elektromotive
- Chargemaster acquisition completed following CMA approval
- £15m investment to expand network and introduce new charging technologies
- Chargemaster customers through the POLAR Network now have access to more than 5,000 chargers
- Wireless charging installation plans move forward
CHARGEMASTER has completed the acquisition of Elektromotive, along with its subsidiary Charge Your Car, following clearance from the Competition and Markets Authority.
The deal means that Chargemaster’s POLAR customers now have access to more than 5,000 charging points throughout the UK.
As well as this, it plans to invest £15 million in new charging sites and advanced technology.
The investment programme will see:
- the launch of more than 2,000 new charging locations across the UK; and
- the introduction of a number of advanced charging technologies, including new access, support and back office systems.
The company also plans to introduce a number of new user access systems, such as contactless credit card payments and Automatic Number Plate Recognition (ANPR). These will complement its current access mechanisms, including Radio Frequency Identification (RFID) cards and smartphone apps.
New updates to the website and app will also be introduced, giving motorists additional information on each site, including points of interest and available facilities, such as cafes, rest stops and WiFi access.
Chargemaster said it also aimed to install wireless charging units in the next two years to support the new cars and taxis that are expected to be coming to market with inductive charging.
David Martell, chief executive of Chargemaster, said: “The acquisition of Elektromotive and Charge Your Car is a major milestone in the company’s expansion plans.
“We currently partner with eight car manufacturers and we are aware that the number of new electric vehicle models going on sale will increase significantly.
“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.”