Fast Charging: Electra Gains Momentum

Thanks to a funding round of 160 million euros, Electra aims to deploy 8,000 ultra-fast charging stations by 2030.

Players in electric vehicle charging are competing fiercely. While Ionity and Tesla had the spotlight just two years ago, others have entered the scene, including TotalEnergies, Fastned, DBT R3, Allego, not to mention the new E-Vadea.

160 million for Electra

But one French company seems to be establishing itself. Electra modestly opened its first station in Aubervilliers in 2021. Colorful, with reliable charging points and a very practical reservation system via app, payment by card, app, or recharge pass, it made a good impression on us with the Fiat 500e. Little did we imagine the growth the company would experience.

Electra has just confirmed a fundraising of 160 million euros, following in the footsteps of NW group and its IECharge stations (300 million). The French company specifies that it has obtained this sum “from Eurazeo, leading this round, RGREEN Invest, RIVE Private Investment, Serena, the Chopard Group, SNCF Group (574 Invest), and RATP Capital Innovation.”

“Our sole goal is to offer an optimal charging experience by combining the best of digital technology and infrastructure for a seamless customer journey,” says CEO Aurélien de Meaux, “We need to propose innovations that enhance the experience so that electric vehicles become truly attractive.”

300 charging points at the end of 2022, 8,000 by 2030

What will Electra do with this huge influx of funds? The company states its intention to “accelerate network expansion across France with publicly accessible fast charging stations and develop in Europe.” So far, it has opened only 7 public stations with 36 charging points (Aubervilliers, Maurepas, Plessis-Robinson, Bordeaux, Beaune, Eculy, Sorgues). Currently, 8 more stations are in the planning stages.

In total, 300 charging points are expected by the end of the year, with around 20,000 charges per month — compared to 3,500 currently — and 600 points in 2023.

Electra’s overall goal is to establish 8,000 fast charging points between 22 and 300 kW by 2030, across France and Europe. The group announces offices opening in Brussels (Belgium) as early as July 2022, “before expanding to other countries by the end of 2022.” This expansion also involves agreements with major groups, including Indigo parking lots, as well as “AccorInvest, Altarea Commerce, Louvre Hotels Group, Primonial REIM France, LSGI, and the Chopard Group.”

Read also: Vinci Autoroutes launches a pass compatible with all charging stations