E.ON takes over insolvent charging station start-up

Energy group E.ON invests in electromobility and takes over the charging station start-up Elvah. The company’s offer, with which users can search for optimal charging options, is to be used initially at E.ON-Drive.

Around a million electric cars are currently approved in Germany. A still negligible proportion if you look at the entire car market. Because this just adds up around two percent.

But one of the biggest problems here is the still insufficient charging infrastructure. But this is exactly where the e-mobility start-up Elvah wants to remedy the situation.

Because the company recommends users optimal charging options through real-time ratings and smart recommendations.

Elvah: E.ON takes over electromobility start-up

A solution that will be housed under the umbrella of E.ON in the future. Because the energy company took over the start-up with its 50 employees.

The takeover is already planned for June 30th. After that, the Elvah solution will initially be used at E.ON Drive and become part of E.ON One.

What is Elvah?

The start-up Elvah was founded in 2020 and specializes in electromobility. With the company’s app, users can search for “available, reliable and inexpensive” charging options for their electric cars.

This gives users access to more than 300,000 charging points in 40 countries. Using real-time data and customer feedback, the app creates a score that allows it to provide feedback on charging reliability and convenience.

Now the start-up will soon be part of one of the largest energy companies in Germany. Through the implementation in E.ON Drive, the application will be available to customers all over Europe in the future.

This is what both sides are hoping for from the takeover

The aim of the takeover is “clear” is the word from E.ON. Because the group wants to “accelerate the traffic turnaround in Germany and increase the attractiveness of electromobility through customer-friendly processes and ease of use”.

E.ON board member Victoria Ossadnik sees the takeover as an important step towards “making individual mobility more sustainable”. Because it is crucial to “intelligently integrate electric vehicles into the energy system”.

Smart solutions like elvah ideally complement E.ON’s technology strategy and significantly improve our customers’ charging experience.

Elvah CEO and co-founder Gowrynath Sivaganeshamoorthy also sees the benefits of the acquisition. As part of the cooperation with E.ON, he wants to “further develop the Elvah platform and make charging e-cars even easier and more reliable”.

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