French fast-charging provider Electra has successfully raised €304 million (USD $330 million) in equity funding. The cash injection will help Electra achieve its goal of installing 2,200 stations housing 15,000 charging points across Europe by 2030.
The fundraising is the largest in the charging sector's history in France and the second-largest in Europe. Headquartered in Paris, Electra has grown immensely since their launch in 2021 thanks to widespread EV adoption in Europe and a collective effort to reduce carbon emissions.
Aurélien de Meaux, Co-founder and CEO of Electra, emphasizes, "The transition to electric mobility is a key aspect of the energy transition, with the transportation sector being the largest CO2 emitter in France. We are creating a network that is very easy to use, making the transition to electric vehicles desirable and not a constraint."
Electra aims to become a pan-European player in the fast charging EV infrastructure market. The company's strategic deployment of nearly 1,000 charging points across several European countries sets the stage for their growth.
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