Daimler becomes lead investor in ChargePoint

Daimler AG has become the lead investor in American charging solutions provider ChargePoint Inc’s latest round of financing and will receive a seat on the company's Board of Directors. 

ChargePoint is the world's leading provider in electric mobility charging solutions and is the market leader in North America. Daimler's strategic investment in ChargePoint is part of its strategy for the new product brand EQ, under which the company is planning to bundle its know-how in the field of intelligent electric mobility in future Mercedes-Benz products. The cooperation lays the groundwork for a comprehensive, customer-focused offer.

Daimler AG is investing heavily in electric mobility. As part of this, investments are being made far beyond just vehicle development. As part of the electric mobility offensive from Mercedes-Benz Cars, in the coming years the company is investing around €10 billion in the expansion of its product portfolio under the EQ brand.

Expanding the electric mobility ecosystem
Another key focus is on the expansion of the electric mobility ecosystem with products, services and innovations. The range extends from intelligent charging services for the home as well as tailor-made services right through to home energy storage units, which work for example in conjunction with photovoltaics installed on house rooftops.

Axel Harries, head of CASE at Daimler AG and as such head of the electric mobility think-tank, is all set to take up the seat on the Board of Directors at ChargePoint. In his opinion, collaboration with ChargePoint is an important building block: "While pursuing the systematic expansion of our CASE ecosystem based on our new product brand EQ, we also remain open and ready for partnerships and cooperation at the highest level. ChargePoint is a company of experts in the field of electric mobility charging solutions with a great deal of know-how in both hardware and software. Together we will be able to significantly expand the product portfolio in the area of intelligent charging solutions and provide the customer with an all-embracing premium offer for electric mobility."

Currently offering more than 33,000 charging spots at more than 7,000 sites around North America, ChargePoint is the world's leading provider in the sector for electric mobility charging solutions and is the market leader in North America.

With the increasing electrification of the drive system, demand for the company's innovative charging solutions is increasing steadily, setting it on a course of steady growth. The international expansion of the business segment to the European market in particular is now on the agenda.

“The automobile industry is at an inflection point, with more vehicles coming onto the market offering highly advanced electric powertrains than any other time in the world’s history,” said Pasquale Romano, CEO of ChargePoint. “ The significant investment by our lead investor Daimler and others not only underscores a collective commitment to e-mobility around the world, but will lay the groundwork for Europe's most comprehensive charging network ever."

Both the development and production of innovative infrastructure solutions for electric vehicles are among the company's core competencies – from conventional AC charging through to ultra-fast charging via DC at up to 400 kW. ChargePoint offers solutions for every niche of the electric vehicle charging ecosystem, including commercial businesses, the retail trade, public institutions, fleet customers and individual drivers.

Technologically, in Europe the company relies on the standardised Combined Charging System (CCS), with which it provides maximum compatibility for future electric vehicle models of all brands. All of the products from ChargePoint are networked via software and can be deployed for various customers in a variety of locations.

In addition to charging stations, the US market leader also provides its customers with tailor-made cloud-based solutions – starting with user-specific energy management systems and well-proven payment services, as well as through to mobile apps boasting innovative features previously unavailable in the European market.

Through remote monitoring and hotline support, ChargePoint ensures maximum availability of the charging stations around the clock, seven days a week – a decisive purchasing factor in particular for fleet operators of passenger cars, commercial vehicles or buses.