French power big Engie to close down EVBox

France’s Engie says it can liquidate the whole EVBox group, which the corporate says posted complete losses of €800 million since Engie took over in 2017.

The Amsterdam-based charging infrastructure supplier EVBox is closing its operations within the Netherlands, along with branches in Germany and the US.

In response to Dutch media reviews, solely 30 of the 700 jobs will likely be retained, with Engie in talks with unions about non permanent work for about 100 of these staff. Engie additionally says that EVBox has greater than 20,000 enterprise clients. The power firm tried to take EVBox public through a inventory market merger, reported Reuters, however that failed in 2021.

Since Engie took over in 2017, EVBox suffered largely losses, costing Engie a complete of €800 million, in accordance with Dutch media outlet FD. Engie had been on the seek for a purchaser a number of months prior, however determined to tug the plug after receiving two bids. The one exception is that Engie did promote its freshly modernized manufacturing unit in Bordeaux to an unknown purchaser, in accordance with FD.. 

What does this imply for the EVBox charging merchandise already put in? That’s unclear. Since being based in 2010, the corporate has equipped 500,000 charging factors all over the world, with the main truck charging hall being Paris and Lyon, which opened final week, utilizing a 480 kW EV charging level. Final yr, Electrek introduced that EVBox was manufacturing its modular DC quick charging EV stations at its manufacturing unit in Libertyville, Illinois, and key buyer deliveries have been focused for the Construct America, Purchase America chargers. Earlier this month, the workplace of Illinois Governor JB Pritzker introduced the donation of 40 EVBox stations to offer charging to the state’s nationwide parks and public areas.

Again in July, Austria’s EnerCharge, which manufactures DC charging stations, filed for insolvency earlier than being purchased by Keba.

The charging infrastructure sector has been feeling the warmth, as funding packages have been canceled because the market ramp-up has fallen quick in some nations, in accordance with Elective. Additionally, new rules such because the AFIR require extra investments in {hardware} and software program, which provides further stress to smaller suppliers. And we are able to’t rule out politics, with Dutch media reviews claiming that Engie, with France being a significant shareholder within the firm, favored the French manufacturing websites over the Dutch ones.

Photograph: EVBox

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