FLEETCOR buys EV charging expert Plugsurfing
Fleet fuel card giant FLEETCOR Technologies has announced major investments in two electric vehicle charging companies.
The US-based business payments company has bought the EV charging platform Plugsurfing for EUR 75 million, and last month invested £5.3million [EUR 6.1m] in Zap-Map, which provides EV drivers in the UK with software to locate, plan, and pay for EV charging.
Plugsurfing has over 1 million users, who use the app and associated RFID card or key to locate then pay for charging at more than 300,000 public chargepoints across Europe.
In Germany, Plugsurfing customers enjoy fixed tariffs of 0,48€ / kWh for AC charging and 0,64€ / kWh for DC charging, regardless of network, as well as 0,89€ / kWh at Ionity chargers.
The company, which launched in Berlin in 2012, also provides white label solutions to vehicle manufacturers so they can provide their EV customers with charging solutions at almost 80% of the continent’s chargers. In addition, Plugsurfing enables charge point operators to accept diverse payment options.
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Tatu Kulla, CEO of Plugsurfing, said: “FLEETCOR is a perfect next step for the company as it will bring more focus to our product roadmap, delivers complementary capabilities to customers and partners, and gives us an opportunity to expand more rapidly and broadly across market segments and geographies.”
For FLEETCOR, the acquisition helps to bridge the gap between its traditional fossil fuel card business and the EV world as its fleet customers transition to zero emission vehicles.
Ron Clarke, chairman and chief executive officer, FLEETCOR, said: “We’re building a broad set of EV assets to not only support our fleet clients’ needs for public and at-home charging, but also to enter completely new EV customer segments with OEMs and CPOs (charge point operators).”
In the UK, Zap-Map has 350,000 registered users and over 95% of the UK’s public charge points on its network.
Alan King, FLEETCOR’s global fleet group president, said: “We’ve integrated Zap-Map’s software and EV network into our UK commercial fleet solution to seamlessly serve our clients as they transition to mixed fleets.”