EO Charging (“EO”), a leading UK-based provider of technology-enabled turnkey solutions for electric vehicle (“EV”) fleets, today announced its expansion into the U.S. market and the initiation of the site selection process for its North American office, planned to open in early 2022. This new division will deliver EO’s complete fleet charging ecosystem for businesses and government fleet operators throughout the Americas, as well as additional offerings from EO’s charging products and services.
EO’s experience in delivering EV fleet charging solutions at scale in the EU and UK for fleets like Amazon, DHL, Uber and Tesco will prove invaluable for similar global operators on the opposite side of the Atlantic. EO will initially focus on electrifying car, van, truck and bus fleets in the U.S., having already secured a pilot demonstration project in California for a global logistics leader.
EO’s entry into the U.S. comes as the EV market has experienced significant support and growth in the region. The $1.2 trillion infrastructure bill recently passed by the U.S. Congress contains multiple programs supporting electrification of vehicles and busses, including $7.5B for charging infrastructure alone. Analysts have projected that total U.S. sales of EVs could reach 24% of all new vehicle sales by 2030, creating a $28 billion EV charging market with a CAGR of 39% along the way.
“It’s no longer a question of whether fleets should electrify, but rather a question of how and when,” said Charlie Jardine, EO CEO and Founder. “We have tested the U.S. market’s appetite for our charging solutions, following discussions with our current and potential fleet customers, and listened to their needs within the U.S. market and beyond. By bringing on board two new industry experts, Tim Weaver and Austin Hausmann, our global team is now primed to deliver EO’s EV fleet charging proposition at pace and scale.”
Active in e-mobility since 2009, Tim Weaver has global executive experience working with private & municipal fleets, OEMs, governments, and utilities. Through his work with multiple electric vehicle manufacturers and suppliers, he has supported the deployment of thousands of zero-emission vehicles worldwide along with significant EV infrastructure projects. Active in public policy, Weaver has secured over $300 million in incentive funds for EV companies, vehicles, and charging in the last decade.
Austin Hausmann brings over 12 years of dedicated commercial electric vehicle OEM leadership to EO. He has developed and commercialized over 15 EV platforms for the U.S. market and overseen the design and development of the hardware and software solutions required for adoption, including various on-and-off vehicle charging programs. Hausmann has been responsible for global engineering teams, projects with the US Departments of Defense and Energy, and oversight of operational strategies, supply chain, after sales services, finance, and corporate growth.
“Expansion into the U.S. is a significant step for EO, laying the foundation for our extensive growth plans in this region and beyond. We look forward to building on our new U.S. team’s deep experience with many of the world’s largest fleets, as well as key infrastructure partners, in deploying electric vehicles and charging solutions,” said Jardine.
The creation of a new U.S. division comes on the back of considerable growth for EO, which, despite the pandemic, saw its revenues triple and headcount double in 2020. Earlier this year, EO was ranked number 27 on the FT’s list of Europe’s fastest growing companies, the highest-ranked business in the EV sector. With a bolstered international team and blue-chip customers such as Amazon, DHL, Go-Ahead, Tesco and Uber, EO forecasts significant growth in 2022.
EO Charging previously announced an agreement for a business combination with First Reserve Sustainable Growth Corp. (NASDAQ: FRSG), which is expected to result in EO Charging becoming a public company listed on the NASDAQ exchange.
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