ECONOMY

PPC mulls acquisition of EV charging services startup

PPC mulls acquisition of EV charging services startup

The Public Power Corporation Group is in advanced talks for the acquisition of Greek startup Carge, a company offering electrical vehicle (EV) charging services, in the context of the utility’s strategic planning for the installation of charging terminals in the medium term.

Kathimerini understands that the PPC the up-and-coming market of electric mobility.

Carge was created in 2020 by Eleftherios Karabatsakis and Petros Benos, and offers motorists services helping them to locate and reserve charging spots for their electrical vehicles, by paying directly and gaining access to thousands of charging terminals across Southeastern Europe, without needing a radio-frequency identification (RFID) card.

The Carge app offers a map that directs drivers to the closest or most convenient charging station with battery-efficient navigation. It has also developed the technology to provide information on vehicles’ batteries, engine condition etc.

If the deal is realized, it will be the first startup acquisition PPC will have implemented, with the group also understood to be considering investments in more tech companies active in electrical mobility and renewable energy sources.