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Pod Point secures new finance to support Tesco charge points roll-out

Pod Point has secured finance from Triodos Bank UK as it pushes ahead with work to install EV charge points at 600 Tesco stores in the UK.

Alongside funding from Tesco and Volkswagen, the finance will help supply hundreds of EV charge points, operated and maintained by Pod Point

First announced some 16 months ago, the charge points are being supplied, operated and maintained by Pod Point under a partnership with Tesco and Volkswagen, and will include free-to-use 7kW media chargers, with the capability to display advertising on a screen, as well as 50kW rapid chargers which will be “priced in line with market rates”.

More recently, energy company EDF has acquired a majority stake in Pod Point as part of a newly formed joint venture with Legal & General Capital, accelerating EDF’s ambition to become Europe’s leading e-mobility energy company by 2022.

Erik Fairbairn, Pod Point CEO and founder, said: “We are witnessing a pivotal moment for the UK’s rapidly expanding public charging network. Through our partnership with Tesco and Volkswagen we are rolling out smart, easy-to-use chargepoints at a scale that is going to accelerate EV adoption in ways we haven’t seen before and make it easier than ever for drivers to go electric. In Triodos, we’ve found a bank that shares our vision of a world where travel doesn’t damage the earth and who can help us achieve our mission to put a charge point everywhere you park.”

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Natalie Middleton

Natalie has worked as a fleet journalist for nearly 20 years, previously as assistant editor on the former Company Car magazine before joining Fleet World in 2006. Prior to this, she worked on a range of B2B titles, including Insurance Age and Insurance Day. Natalie edits all the Fleet World websites and newsletters, and loves to hear about any latest industry news.