- Chargemaster given approval to complete Elektromotive acquisition
- Deal consolidates UK electric vehicle (EV) infrastructure market
- New investment will improve public charging experience for UK EV drivers
The UK Competition and Markets Authority (CMA) has today given clearance for Chargemaster to acquire Elektromotive and Charge Your Car Ltd next week.
The approval allows Chargemaster, the UK’s premier EV charging point supplier, to complete the full purchase of Elektromotive, one of the first infrastructure suppliers in the country, and its subsidiary, Charge Your Car. The move marks a significant consolidation of the UK EV infrastructure market, including the supply of charging points and nationwide public charging networks.
The acquisition will see Chargemaster invest additional resources into Elektromotive and Charge Your Car. Focusing on increasing its network of public chargers and enhancing maintenance and customer services, the move helps 90,000 EV drivers stay mobile across the UK.
Chargemaster’s public charging network, POLAR, is the largest of its kind across the UK, giving POLAR plus members access to all charging points with just one membership card.
David Martell, Chief Executive of Chargemaster, said: “This is great news for the rapidly growing number of EV drivers in the UK. By integrating the POLAR and Charge Your Car networks, we can provide more UK charging points, a number of new advanced features, and a better customer experience. POLAR plus membership gives every EV motorist access to more than 5,000 charge points nationwide, with around 90% of them completely free to use. We are committed to keeping the costs of charging low to support the industry as we transition into a new era of motoring.”