French Total boosts German EV network with Charging Solutions buy
EV charging. Author: NCDOTcommunications.
French oil and gas major Total SE (EPA:FP) has closed the acquisition of Charging Solutions, an electric-vehicle (EV) charging infrastructure unit of family-owned German Viessmann Group's subsidiary Digital Energy Solutions, adding to its operations a network of 2,000 EV charge points at business locations.
Total took over Charging Solutions as part of its strategy to operate 150,000 charge points in Europe by 2025. The financial terms were kept under wraps.
Charging Solutions will be integrated in Total's German division with an effective date of November 1, according to a statement issued on Wednesday.
The deal strengthens Total's capabilities for the installation, operation and management of charging networks dedicated to commercial fleets and companies, ahead of a projected strong growth in EV demand in the professional and business-to-business segment.
Munich-based Digital Energy Solutions was launched in 2016 as a joint venture equally held by Viessmann Group and BMW to provide cross-sector energy management in electricity, heat and mobility. Viessmann took full ownership of the unit in February for an undisclosed amount.
In September, Total inked a deal to acquire Blue Point London, trading as Source London, the division owned by French Bollore Group and tasked with establishing the UK capital's EV charging network. The French company, which established its electric mobility unit EV Charge in 2019, already develops and runs EV charging networks in Amsterdam and Brussels.