French utility EDF has purchased a majority stake in Pod Point, one of the largest electric vehicle charging companies in the United Kingdom, for an undisclosed amount.
The purchase was made as part of a newly formed joint venture with Legal & General Capital and is said to be the company’s largest EV acquisition. Following the deal, Legal & General will increase its existing 13 percent stake in Pod Point to a 23 percent stake in the new joint venture.
“By investing our capital in clean energy assets, businesses and technologies, we can accelerate the progress to a low-cost, low-carbon economy,” noted John Bromley, head of clean energy at Legal & General Capital. “Our capital has enabled Pod Point to make substantial progress and execute its growth strategy over the last 12 months.”
According to Pod Point, transport has the highest carbon emissions of any infrastructure industry. Data by EDF shows that a low carbon grid would avoid 65 milli
