Electric vehicle charging company ChargePoint recently announced its acquisition of electrification solution provider ViriCiti for 75 million euros ($87.86 million); a move that will see the company advance its expansion efforts into Europe.
Following the announcement, ChargePoint Chief Executive Officer Pasquale Romano made the following statement: “The future of fleets is electric, and integrating charging solutions with the many business systems already in place in today’s depots is essential to successful electrification.”
With the European Union deciding to take steps to combat climate change and decrease emissions, electric vehicle sales have spiked across the region. As a result, ChargePoint is intent on expanding its charging network, which is already the largest online network of independently owned EV charging stations. Currently, the Campbell-based company has stations in 14 countries.
In addition to the EU’s planned 80-120 billion euro spending on charging infrastructure until 2040, the United States has allocated $174 billion in funds to electric vehicle activities, of which $15 billion is dedicated to the construction of 500,000 EV charging stations.
Founded in 2012, ViniCiti specializes in providing monitoring solutions for both electric vehicle fleets and charging station networks. Currently, the company employs over 50 workers in the Netherlands and the United States.
