EDF Completes £10.6M Takeover of UK EV Charger Pod Point

French energy giant EDF is set to acquire the remaining 47% of London-listed electric vehicle charging company Pod Point, valuing the firm at approximately £10.6 million, a steep decline from its £352 million market capitalization at IPO in 2021. EDF, which already owns a 53% stake, will pay 6.5p per share in cash, representing a 24% premium to the share price before the offer period. Pod Point has faced significant financial challenges, including a 35% increase in adjusted earnings losses to nearly £21 million in 2024 and a 17% revenue decline due to weaker private EV demand and increased competition. The company is transitioning from selling EV chargers to a subscription-based 'charging as a service' model, but lacks the capital to fully pursue this strategy independently. Pod Point's board unanimously recommends the offer, viewing it as the only viable path to long-term stability and growth under EDF's operational support. The acquisition ends a difficult public market tenure for Pod Point, which has struggled with cash burn and deteriorating share value amid slower EV market uptake.