Engie in total failure with its EVBox car charging stations

© EVBox

Engie's electric dream turns into a nightmare. The French group has just announced the liquidation of EVBox, its subsidiary specializing in car charging stations.

A hard blow for the company, which had bet big on this booming market. But how did we get here?? Deciphering an industrial fiasco with serious consequences.

An ambitious acquisition that turns sour

© EVBox

In 2017, Engie bought EVBox with great ambitions. The Dutch company, then in full growth, seems to have a bright future in a promising sector. Engie y sees the opportunity to position itself as a major player in the energy transition. Seven years later, the results are clear: more than 800 million euros in losses and a liquidation that leaves 700 employees on the side of the road.

A saturated market and fierce competition

© Presse-citron

The charging station sector has experienced exponential growth in recent years. Many players are are launched into the race, creating fierce competition.

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EVBox, despite its expertise, has not been able to stand out from the crowd. The decline in interest in electric cars and rising energy prices eventually dealt the company a fatal blow.

Strategic mistakes that cost dearly

© EVBox

Engie made several mistakes in its management of EVBox. The failed attempt at an IPO in 2021 was a first warning signal. The French group failed to react in time, continuing to inject money into a subsidiary in difficulty. The late search for a buyer only postponed the inevitable, worsening the losses.

A lasting impact on the electric mobility sector

The disappearance of EVBox is not limited to a financial failure for Engie. A whole section of the charging infrastructure is under threat. With more than 500,000 charging points installed, the liquidation of EVBox raises the crucial question of the maintenance of this equipment. A situation that will not accelerate the transition to electric mobility.

• Engie liquidates EVBox after colossal losses of more than 800 million euros
• 700 jobs are affected and the future of 500,000 charging points is uncertain
• This failure illustrates the challenges of the market for charging stations for electric vehicles

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