Published 2 months ago • loading... • Updated 2 months ago

Weak UK demand for electric vehicle charging sparks investor alarm

Pod Point warned that revenues could fall more than one-tenth below expectations due to weakness in the EV market and reduced cash reserves.
Expected revenues for Pod Point in 2024 have been downgraded from £60 million to £53 million, with results for 2025 also anticipated to be below market expectations.
Despite 382,000 new electric cars registered in the UK in 2024, experts noted more needs to be done to encourage the switch to electric vehicles.
Melanie Lane, Pod Point's Chief Executive, stated that 2024 has been a transitional year, with the weaker private EV market negatively impacting revenues.

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The Telegraph

Electric car charging giant loses third of value as demand slumps

Low EV sale numbers mean fewer customers are installing power points at home, Pod Point chief warns

2 months ago·London, United Kingdom

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GB News

Electric car charging firm issues dire revenue warning amid 'weaker-than-expected' interest in EVs

One of the UK's most popular electric vehicle charging operators has issued a market warning that revenues could fall as it blamed weakness in the EV market

2 months ago·London, United Kingdom

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Financial Times

Weak UK demand for electric vehicle charging sparks investor alarm

Pod Point shares fall almost 40% after group backed by L&G warns on revenues

2 months ago·London, United Kingdom

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The Independent

+2 Reposted by 2 other sources

Pod Point cuts revenue forecasts due to weakness in UK electric vehicle market

The company said it expects to have delivered revenues of £53 million in 2024, having previously pointed towards revenues of £60 million.

2 months ago·London, United Kingdom

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Jingletree

Electric car charging giant loses third of value as demand slump looms

An electric vehicle charging pod point sign Shares in one of Britain’s leading electric car charging networks plunged by more than a third after bosses warned that plans to water down net zero targets risk damaging demand. Pod Point saw around £10m wiped from its market value after a 41pc drop in its share price, which was triggered by a gloomy trading update on Monday morning. The company, which is majority-owned by

2 months ago

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Online EV

EV charging firm Pod Point warns of weak 2024 results – Quantum Commodity Intelligence

EV charging firm Pod Point warns of weak 2024 results Quantum Commodity Intelligence Source link The post EV charging firm Pod Point warns of weak 2024 results – Quantum Commodity Intelligence first appeared on Online EV Marketplace.

2 months ago

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