Total finalized the acquisition of G2mobility, a French leading provider of electric vehicle charging solutions, the energy giant announced Thursday.
“With this deal, Total is accelerating the growth of its electric vehicle charging businesses, from designing smart charging stations to optimizing energy usage management and selling integrated services," a press release read.
Following the agreement's signature with G2mobility and its long-time shareholders, including Bpifrance, a French national investment bank, and Nexans, a global leader in advanced cabling and connectivity solutions, "Total now fully owns the company," according to the statement.
"Total is pursuing its expansion in new energies for mobility. Following the acquisitions of PitPoint in Europe in 2017 and of 25 percent of Clean Energy in the U.S. this year, which has allowed us to accelerate in natural gas fuel for vehicles, the G2mobility transaction is a pivotal step in improving our electric vehicle charging offering," said Momar Nguer, president of marketing and services at Total.
"With a market share of more than 25 percent of charging points for local governments and growth in revenues of over 50 percent last year, G2mobility brings us a new competency to provide more efficient electric charging systems for our B2B [Business-to-Business] and B2C [Business-to-Customer] customers," Nguer added.
According to the statement, to help speed up the growth of infrastructure for electric vehicles, Total and Nexans have signed a partnership agreement that gives Total access to Nexans' production capacity and industrial know-how.
"Nexans will be able to rely on G2mobility's technological edge and Total's range of service offerings," it said.
Nexans CEO Christopher Guerin said they are delighted to be working with Total to help improve vehicle charging infrastructure, the key to adopting sustainable mobility, in particular through their AGICITY range.
Launched in June, AGICITY is "a range of dedicated solutions designed to facilitate the rollout of sustainable mobility in urban, suburban and rural areas".
By Hale Turkes