“2023 has been a remarkable year on all fronts for Driveco, driven by the accelerated deployment of its charging station network, the exceptional mobilisation of its teams, and a record fundraising paving the way for a new chapter of growth. In an environment increasingly marked by the impacts of climate disruption, we intend to accelerate further in 2024, in order to fully play our driving role in the energy transition and make the electric revolution accessible to all.”
Ion Leahu-Aluas, Chief Executive Officer of Driveco
Massive Acceleration in Deployment and Strong Commercial Momentum
2023 was marked by intense activity for Driveco, characterized by the addition of 1,600 new charging stations to its network.
With more than 6,000 charging stations now available in frequently visited locations such as supermarkets, offices, schools, shopping malls, hotels and restaurants, Driveco offers the best coverage in France in terms of electric vehicle charging network. In addition, 4,000 new charging points are currently being installed.
This year, 660,000 charges were carried out at Driveco charging stations (+33% vs. 2022), allowing electric vehicle drivers to travel 63 million kilometres.
Since the company’s creation, 125 million kilometres have been driven thanks to charges from the Driveco network, avoiding the equivalent of 24,000 tonnes of CO2.
Solid Financial Performance
Driveco recorded a revenue of nearly €35 million in 2023, an increase of 40% compared to the previous year. This performance, which is based on the continuity of its third-party activity and the acceleration of its proprietary station operator offering, underscores the relevance of its business model.
The company’s growth is supported by the commitment of its 120 employees, whose workforce has almost doubled in a year. In 2023, Driveco also strengthened its presence by opening offices in France in Lille and Marseille, as well as in Europe in Brussels, Madrid and Milan.
A Deployment Secured by a Diversified Procurement Strategy
As part of the significant ramp-up of its network coverage, Driveco has recently signed three framework agreements with IES, alpitronic and Tritium, aimed at securing its supply of charging stations. These agreements cover high-power charging stations (50 kW, 150 kW, 300 kW), for a total investment amount of around €40 million.
In parallel, Driveco continues to manufacture 22 kW Kino Pro charging stations on its production line in Angers, in line with its commitment to support the reindustrialisation of France and Europe.
This massive investment plan is supported by the €250 million fundraising carried out in May 2023 with the pension fund manager APG. This transaction reflects the continued support of historical investors Mirova and Corsica Sole, who share with APG and Driveco a vision of positive societal impact and long-term value creation.
A Year Marked by Successes
2023 was also punctuated by numerous advances on the commercial, operational and technological fronts, including:
- The deployment of Driveco x Carrefour Market stations (300 charging points installed out of 3,000).
- The partnership agreement with Airbus covering 1,600 charging points distributed across 10 sites of the aeronautics leader in France.
- The launch of the new Driveco application, simpler, smoother, and more intuitive.
- Obtaining authorisation to purchase electricity for resale, which gives the company full control over the supply of green energy and enables price stability for its customers.
Confirmed Outlook
Driven by this momentum, Driveco confirms its ambition to become a major player in electric vehicle charging infrastructure in France and Europe, and reiterates its goal of offering its charging network in 7 European countries by 2030.
