French energy company Total announced that it has finalized the acquisition of G2mobility, a leading French provider of electric vehicle charging solutions. With this deal, Total is accelerating the growth of its electric vehicle charging businesses, from designing smart charging stations to optimizing energy usage management and selling integrated services.
A pioneer in the sector since 2009, G2mobility has developed and markets a comprehensive charging solution, with connected charging stations operated by a web platform that can remotely control the charge points, offer services, particularly smart energy management systems. With almost 10,000 points managed by its services platform, G2mobility supports municipal governments and private businesses.
Following the signing of the agreement with G2mobility and its longtime shareholders, including Bpifrance, the French national investment bank, and Nexans, Total now fully owns the company.
“Total is pursuing its expansion in new energies for mobility. Following the acquisitions of PitPoint in Europe in 2017 and of 25% of Clean Energy in the U.S. this year, which has allowed us to accelerate in natural gas fuel for vehicles, the G2mobility transaction is a pivotal step in improving our electric vehicle charging offering. With a market share of more than 25% of charging points for local governments and growth in revenues of over 50% last year, G2mobility brings us a new competency to provide more efficient electric charging systems for our B2B and B2C customers,” said Momar Nguer, president, Marketing & Services, and member of the Executive Committee at Total.
“Current growth in the electric vehicle industry is bringing charging solutions into a new era in terms of ambition and capacity,” said Pierre Clasquin, chief executive officer and co-founder of G2mobility. “Today, you have to offer integrated solutions, from electricity supply to an end-to-end charging service. In joining Total, G2mobility can enthusiastically pursue its growth and keep contributing to the energy transition.”
“The energy transition is an excellent growth opportunity and a tool for innovation, differentiation and performance for French companies. It is also a core focus of Bpifrance’s actions,” said Paul-François Fournier, senior executive vice president, Bpifrance Innovation. “We’re proud to have supported the growth of G2mobility since 2013, and to see it join a world-class company where it can accelerate its expansion and the deployment of its service offering.”
To help speed up the growth of infrastructure for electric vehicles, Total and Nexans, a global leader in advanced cabling and connectivity solutions, have signed a partnership agreement that gives Total access to Nexans’ production capacity and industrial know-how. Nexans will be able to rely on G2mobility’s technological edge and Total’s range of service offerings.
“We’re delighted to be working with Total to help improve vehicle charging infrastructure, the key to adopting sustainable mobility, in particular through our AGICITY® range,” said Christopher Guérin, CEO of Nexans. “Nexans is proud to have helped G2mobility grow by providing this innovative company with our industrial expertise.”