ChargePoint is increasing its focus on Europe as the electric vehicle charging provider seeks to expand beyond its home market in the United States, with CEO Rick Wilmer forecasting that the region could eventually account for half of the company’s revenue.
The strategy comes as the U.S.-based company introduces new charging products for both European and North American markets while seeking to capitalize on continued policy support for transport electrification across Europe.
Europe Becomes a Larger Part of the Business
Wilmer said Europe represented approximately one-quarter of ChargePoint’s revenue during the company’s fourth quarter, the highest share recorded by the region to date.
The company expects that contribution to continue growing as demand for electric vehicle infrastructure expands across European markets.
“We expect that trend to continue,” Wilmer said.
“Unlike the US, we’ve got government support in Europe for electrification. So that’s helping.”
Looking further ahead, Wilmer outlined ambitious growth plans for the region.
“We want to be as big or bigger in Europe as we are in the US,” he said.
“From 23 per cent of revenue from Europe to 50 per cent or more.”
Company Remains Optimistic About U.S. Market
Despite policy changes affecting the electric vehicle sector in the United States, ChargePoint continues to see growth opportunities in its domestic market.
The company points to increasing availability of lower-priced electric vehicles and a growing used EV market as factors supporting adoption.
According to Wilmer, electric vehicle retention rates remain high, with most EV owners choosing not to return to internal combustion engine vehicles.
“What really drives our business is the number of EVs on the road, not the number of new EVs sold every month,” he said.
New Charging Products Support Expansion Plans
ChargePoint plans to support its European growth strategy with a new generation of charging hardware, including the recently launched Express Solo DC fast charger.
The company said the platform was designed from the outset for deployment in both Europe and North America.
“We’ve got a whole slew of new products coming into the market that were intentionally designed to serve both Europe and North America,” Wilmer said.
The company is targeting fleet operators and charge point operators with solutions aimed at reducing installation complexity, operating costs and space requirements.
According to ChargePoint, the Express Solo platform includes a 600-kilowatt charging system with a footprint smaller than some existing 400-kilowatt alternatives.
Focus on Reliability and Energy Integration
The Express Solo system uses air-cooled technology rather than liquid cooling, a design approach that ChargePoint says reduces complexity and maintenance requirements.
The platform also features a modular architecture that allows multiple units to be linked together for larger charging installations.
“This is unique in the industry,” Wilmer said.
Beyond charging hardware, ChargePoint continues to expand its software and energy management business. The company said approximately 40% of its revenue currently comes from recurring software and service offerings, with the remainder generated through hardware sales.
“We’re a full-stack provider with both hardware and software,” Wilmer said.
“We are absolutely convinced, in fact more convinced than ever, that that is the right solution for the market.”
Vehicle-to-Grid and Energy Management Opportunities
ChargePoint is also increasing its involvement in grid integration and energy management technologies.
In the United States, the company recently introduced its ExpressGrid concept in partnership with Eaton, combining charging infrastructure, battery storage, renewable energy integration and direct-current power systems.
Wilmer said electric vehicles could play a larger role in future energy systems through vehicle-to-grid applications.
“You now effectively have a reservoir of energy on wheels that can move from one place to another,” he said.
Competition Intensifies in Europe
ChargePoint’s expansion comes as it enters a highly competitive European charging market that includes established players such as ABB, Siemens and Alpitronic.
The company believes opportunities remain available as charging operators seek solutions that improve utilization rates, reduce installation costs and simplify operations.
ChargePoint plans to coordinate its expanded European activities from the Netherlands as it works to increase its presence across the region and strengthen its position in the global EV charging sector.