Blog

Jun 13, 2025

EV charger company Pod Point bought by EDF for £10m

Pod Point has been bought out by EDF, the French energy group, for just over £10 million, four years after it was floated in London at a valuation of £345 million. EDF has secured approval from the

Pod Point has been bought out by EDF, the French energy group, for just over £10 million, four years after it was floated in London at a valuation of £345 million.

EDF has secured approval from the board for a cash offer of 6.5p per share for the electric vehicle charger company, whose shares floated in November 2021 at 225p apiece.

The offer from EDF represents a premium of 24 per cent to Pod Point’s share price on April 23, which was the day before the French company’s interest in a takeover was revealed.

• Pod Point rues lack of private buyers for electric cars

Founded in 2009 by Erik Fairbairn, Pod Point was among a clutch of technology focused companies, now called “the Class of 2021”, which floated to great fanfare at the height of the pandemic but whose fortunes have since stalled.

Fairbairn stepped down in July 2023 to allow for new leadership as the company navigates the growing market for EVs.

Andy Palmer,chairman of Pod Point, said the board felt the offer from EDF, which owns a stake of 53 per cent, represented “the best value for all Pod Point shareholders, employees and other stakeholders”.

In full-year results, alongside the deal announcement on Thursday, the company posted a 17 per cent decline in revenue to £52.9 million for the year ended December 31, 2024. The company’s losses widened by 2 per cent to £84.5 million.

Melanie Lane, the chief executive of Pod Point, said that there “remains a clear trajectory” to the electrification of the UK economy, but that the “glide path was not without some bumps”. She added: “As expected, 2024 has proven to be a transitional year in terms of our disappointing financial performance, adversely affected by several items.

“Consumer confidence remained muted, and cost of living pressures have not disappeared. The ongoing challenges with infrastructure investment for EV charging remains an impediment to faster take-up of EV sales.”

The company said EDF’s offer represented “the only realistic prospect” for the group to continue as a going concern, having been “reliant” on EDF to execute its strategy since inception.

The London Stock Exchange benefited from more than 100 company listings in 2021. Yet, the markets turned following Russia’s invasion of Ukraine, which prompted energy prices to soar and triggered high inflation. London’s listing market has not yet recovered.

Philippe Commaret, managing director of EDF, said: “EDF has a longstanding commitment to electric vehicles and a strong customer offering with one of the most competitive EV tariffs in the market.

“Our offer for Pod Point will allow it to benefit from long-term stability and enhanced operational support providing greater certainty for its customers.

“Electric vehicles offer consumers the chance to save money and carbon. Electrification of transport, heat and industrial processes strengthens Britain’s energy security and protects consumers from volatile fossil fuel prices.”

Pod Point secured a number of contract agreements over the year as it signed deals with Honda, Bupa, Taylor Wimpey, Roadchef and Rentokil. The vehicle charging network also extended its contracts with BMW and Jaguar Land Rover.

The group expanded its total network of devices by 14 per cent to 258,000 during the year, and delivered cost savings of £6 million.

June 11 2025, 9.05pm

James Hurley

May 31 2025, 10.00pm

William Turvill, Chief Business Correspondent

June 11 2025, 4.38pm

Helen Cahill, M&A and Restructuring Correspondent

HARRY WALLOP

June 12 2025, 2.15pm

Harry Wallop

June 13 2025, 8.30am

Simon Freeman, Business News Editor

June 13 2025, 6.00am

Hannah Prevett, Deputy Editor, Entrepreneurs Network