Innovative Partnership to Energize European EV Market

StarCharge and Schneider Electric have formed a joint venture to revolutionize Europe's EV charging and energy storage markets. Combining their strengths in technology and market knowledge, they plan to create a leading prosumer company delivering pivotal infrastructure and energy management solutions across Europe.

In a groundbreaking move, StarCharge and Schneider Electric have sealed a joint venture agreement poised to transform the European electric vehicle (EV) and energy storage markets. The partnership, rooted in a Memorandum of Understanding signed in May 2024, aims to propel innovation by leveraging the strengths of both companies.

This strategic collaboration will foster the development of a leading European prosumer company. It will supply EV charging infrastructure, photovoltaic inverters, AC and DC chargers, and storage systems across Europe. StarCharge will bring its well-regarded EV charging and energy storage technologies to the table, while Schneider Electric contributes its expansive market knowledge and leadership in energy management solutions.

The deal, with BNP Paribas as the financial advisor, awaits standard regulatory approvals. Both companies are committed to sustainability, setting the stage for a greener electric transportation landscape. StarCharge's global footprint spans over 60 countries, whereas Schneider Electric is known for its innovations in electrification, automation, and digitization worldwide.

(With inputs from agencies.)