Charge point operator Pod bought by EDF for £10.6m

EDF has completed the acquisition of the London-based electric vehicle (EV) charge point operator Pod.

It follows the Pod Board’s recommendation of the buyout offer from EDF in June, at which time EDF held a 53% stake in the business.

As a result, Pod has been delisted from the London Stock Exchange, effective from today (Monday, August 4), marking the completion of the transition to a privately held company.

Melanie Lane, CEO at Pod, said: “Joining the EDF family today marks a new era for Pod and an opportunity for us to build upon our years of collaboration with EDF.

“We will continue to work closely with our wider ecosystem of partners and customers to deliver on our commitment to help busy households with all their charging needs, while supporting Britain’s electricity grid.”

It comes after Pod Point rebranded to Pod in May, and launched a new, all-inclusive home charging service.

The Pod Drive subscription cuts the up-front costs of installing a charger from £1,249 to £99, while rewarding customers with cashback of up to 7,500 ‘smart-charged’ miles per year. 

A £40 monthly subscription to Pod Drive includes a Solo 3S charger, installation and a 48-hour service level agreement.

Philippe Commaret, managing director of customers at EDF in the UK, said: “Pod has been a key player in the EV charging space and as a wholly owned subsidiary of EDF, will be well-positioned to thrive in a rapidly evolving market.”

Find out more from Fleet News on charging EVs at home and what fleet managers need to know.