Australian motoring clubs acquire largest public EV charger network Chargefox

Australian motoring clubs acquire largest public EV charger network Chargefox

NRMA secures deal to acquire Chargefox. 

Australia’s largest EV charging network Chargefox, which has managed more than half a million charging sessions across Australia and New Zealand to date, has been fully acquired by the Australian Motoring Service (AMS) for an undisclosed fee.

The investment in the fast-charging EV infrastructure means NRMA, the most prominent member of AMS, will continue to play a leading role in the electrification of Australia’s transport future while helping to reduce emissions across the country.

Melbourne-based Chargefox will continue to operate as usual and refocus with renewed support on its ambitious target to have more than 5,000 EV plugs across the country by the end of 2025.

NRMA Group CEO Rohan Lund said that as Australia’s largest mutual, representing more than 2.7 million members, the NRMA was ideally placed to play a crucial leadership role in the nation’s transport sector transition to electric vehicles.

“Australia is not immune to the global transition away from fossil fuels in transport and towards sustainable energy sources, and we must make significant steps now to ensure the nation is not left behind, this is why today’s investment by Australia’s motoring clubs is so important,” he said.

“Between us, we represent over 8.5 million motorists nationwide, and they are looking to their motoring clubs to show leadership in this space. The acquisition of Chargefox by the NRMA and its sister clubs is just the latest in a series of significant steps taken by the NRMA to help lead this transition.”

The AMS, made up of mobility clubs including the NRMA, RACV, RACQ, RAC, RAA and RACT, bought the stake from JET Charge – the deal coinciding with the announcement of a $30 million Series B fundraise in JET Charge from sustainability-focused Kilara Growth Fund.

JET Charge CEO Tim Washington co-founded Chargefox with Marty Andrews and Mark Wells in 2017.

“I’d like to thank my Chargefox co-founders Marty and Mark on an incredible adventure and look forward to seeing Chargefox blossom under AMS’ stewardship,” Washington said.

Chargefox currently has more than 2,500 EV plugs, which dispense over 7 GWh of electricity for drivers via its iPhone and Android mobile apps - enough electricity to power the average household for 1,400 years.

Boosting NRMA’s existing fast-charging network across NSW and the ACT, the deal follows the recently announced partnership with the Australian Government to build 117 fast-charging sites across the national highway network.

“The impact Chargefox has already had on Australia’s transport s impressive – over 14 million carbon-free kilometres charged and growing – and this will grow significantly with today’s announcement,” Lund said.

“It is widely accepted that electric vehicles will appear in far greater numbers on Australian roads in the coming years, and the NRMA is committed to ensuring the nation has the infrastructure it needs to deliver on this transition.”

NRMA recently invested in Electric Highway Tasmania to provide 27 charging locations across the island by mid-2023.

Its car and truck rental company SIXT Australia is committed to converting half of its 16,000 nationwide rental fleets to electric within five years, while NRMA’s electric ferries aim to change the future of transport on Sydney Harbour.  

Help us deliver quality journalism to you.
As a free and independent news site providing daily updates
during a period of unprecedented challenges for businesses everywhere
we call on your support

What to do (and what to avoid) in a bear market
Partner Content
For investors worldwide, emotions are running high as the current bear market overstays...
Etoro
Advertisement

Related Stories

Booktopia acquires upgraded distribution centre as it closes in on $14m investment package

Booktopia acquires upgraded distribution centre as it closes in on $14m investment package

Online book retailer Booktopia (ASX: BKG) is aiming for some relief...

Floods and volatile markets hit Suncorp, drive profit 34pc lower to $673m

Floods and volatile markets hit Suncorp, drive profit 34pc lower to $673m

Volatile investment markets and an increase in natural disasters ha...

Adelaide’s OZ Minerals rejects $8.3bn takeover offer from BHP

Adelaide’s OZ Minerals rejects $8.3bn takeover offer from BHP

An $8.3 billion takeover offer from mining giant BHP Group (ASX: BH...

Cali Beach Club operator to transform Brisbane’s GPO with $7m redevelopment

Cali Beach Club operator to transform Brisbane’s GPO with $7m redevelopment

The hospitality group behind popular Gold Coast venue Cali Beach Cl...