September 20 (Renewables Now) - French oil and gas company Total SA (EPA:FP) has completed the acquisition of local electric vehicle (EV) charging solutions provider G2mobility, it was announced today.
Total has agreed the transaction, at an undisclosed value, with G2mobility and its longtime shareholders Bpifrance and Nexans. The latter has also entered into a partnership agreement that gives Total access to Nexans’ production capacity and industrial know-how. At the same time, Nexans will benefit from G2mobility’s technology and Total’s range of service offerings, the press statement says.
G2mobility has developed a number of smart charge points models for both companies and public entities, and a web platform that can remotely control the charge points. The firm's services platform currently manages nearly 10,000 points and supports municipal governments and private businesses. G2mobility has a market share of over 25% of charging points for local governments and saw its revenues jump by more than 50% last year, commented Momar Nguer, president, marketing and services and member of the executive committee at Total.
The purchase of G2mobility allows Total to grow its own EV charging operations and expand in new energies for mobility. The group also bought PitPoint in Europe in 2017 and a 25% stake in Clean Energy in the US to boost its activities in natural gas fuel for vehicles.
Total pointed out that the latest move will accelerate the growth of its EV charging activities from designing smart charging stations to optimising energy usage management and selling integrated services.