EG Group targets rapid charging market
EG Group sees alternative fuels, and EV rapid charging in particular, as a major growth opportunity for the company both in the UK and across its global network.
After recently being acquired by Asda, the EG Group sees big opportunities for the development of the alternative fuels market. In its trading update for the first quarter of 2023, the company stated that the EV rapid charging sector has great potential for growth both in the UK and across its global network.
In its trading update the company said: “Across all markets, the evolution to alternative fuels presents a major opportunity for the group, with EG’s large site network offering a unique base from which to build a leading rapid charging network.”
In its first update since the Asda acquisition, the group identifies “almost 4,000 high-quality potential sites for ultra-rapid charging.” EG describes these locations as having “high footfall, enough car parking spaces and complementary foodservice and/or grocery offerings
The company aims at developing its EV charging offers in the “near-term” and wants to accelerate the rollout of EV charging solutions under its evpoint brand.
When the announcement of EG Group’s sale to Asda was made official, Zuber Issa, co-founder and co-CEO of EG Group, briefly touched upon this topic in his comment on the sale.
“The sale of EG UK&I to Asda is an important step for the group and provides a platform to further invest across our diverse international portfolio, where we continue to see compelling opportunities to accelerate our proven and successful strategy to rollout foodservice, and grocery and merchandise to create multi-purpose convenience retail sites across our estate. We also have a significant near-term opportunity to deploy emerging fuels and EV chargers, across the existing site network and third-party locations,” commented Issa back then.
