Germany's Daimler AG has become the lead investor in American charging solutions provider ChargePoint as part of a plan to expand its development of electric vehicles.
With the investment, Daimler AG receive a seat on the company’s board of directors. Daimler is investing in electric mobility as part of its corporate strategy known as CASE, which stands for Connected, Autonomous, Shared and Service, and Electric Drive.
Daimler says this "ecosystem expansion" will serve as a platform for further electric mobility products and services for commercial vehicles as well as private customers and passenger cars.
“While pursuing the systematic expansion of our CASE ecosystem based on our new product brand EQ, we also remain open and ready for partnerships and cooperation at the highest level,” said Axel Harries, head of CASE at Daimler AG. “Together we will be able to significantly expand the product portfolio in the area of intelligent charging solutions and provide the customer with an all-embracing premium offer for electric mobility.”
With the investment, ChargePoint plans to expand business into the European Market. The company currently offers 33,000 charging spots at more than 7,000 sites inNorth America.
“The significant investment by our lead investor Daimler and others not only underscores a collective commitment to e-mobility around the world, but will lay the groundwork for Europe's most comprehensive charging network ever,” said Pasquale Romano, CEO of ChargePoint.