In dialogue with Mobility Portal Europe, Federico Fea, Chief Executive Officer and Co-Founder at Powy, reveals the current and future projects of the company.
“We signed contracts to build 2,000 charging points in Italy and Spain,” says Fea.
He continues: “About 600 have already been installed, with 400 of them placed in the last 12 months. The remaining 1,400 are in the construction phase.”
The devices currently being installed are of various categories to meet the customer’s needs.
“The 2000 points we signed for represent the starting EV charger set we will make, as our agreement allows us to expand the infrastructure according to demand,” clarifies Fea.
Thanks to a compelling and distinctive offer and agreements with top strategic partners such as Stellantis, the company has established itself in over 170 premium locations and its expansion pace is increasing.
For this reason, Powy aims to place its equipment in heterogeneous strategic locations, such as railway stations, hotel parking lots, supermarkets, petrol stations, highways, influential companies, and shopping centers.
If the type of location is heterogeneous the quality is not “we are very selective in choosing the locations and the hosts to partner with” Federico Fea says.
“On top of private locations with public access, we are working with municipalities that have chosen us as trusted providers,” adds the CEO.
It is worth noting that, thanks to a collaboration with FSpark, the National Railway Group of the State in Italy, about 600 chargers will be installed in the parking lots of Italy’s most relevant train stations.
Additionally, the company plans to consider “leisure” centres, i.e., locations where sports groups such as tennis, paddle, golf, or gyms, are located.
How will Powy address the challenges in the sector?
The use of purely electric cars in Italy represents only 0.5 percent of the circulating vehicles, meaning there is one of these vehicles for every 200.
This directly affects Charging Point Operators (CPOs).
The truth is that, according to Fea, the majority of current buyers are tech-friendly adopters, which means that companies in the sector must be prepared to provide services to different consumers.
“How will we address this challenge we face in the coming years? By thoroughly studying customer charging data,” says Powy’s CEO.
What are customers requesting?
Fea highlights the adoption of card payment systems, as owners of zero and low-emission vehicles will increasingly seek ease of use provided by traditional payment methods.
Another issue, linked to the need for simple recharging, is that the cable is already incorporated into the charger.
At the same time, hubs must be located in the right place, meaning in locations with high traffic frequency and accessible from the road.
How does Powy differ from the competition?
“We are competitors, but above all, we are allies,” expresses Fea.
He adds: “The challenge facing the automotive industry and CPOs is so great that it is more important to face it together than to compete for a location.”
Powy aims to become an operator recognized for the quality of its service, both for those who charge their vehicles and those who provide space for the stations.
Unlike other firms, they focus on customer satisfaction at every moment and ensuring that their services are practically tailor-made.
At the same time, not aiming to be a massive player works in their favor, as it implies privileged attention and flexibility to every user’s needs.
Furthermore, it’s worth mentioning that the company, along with its shareholder SwissLife Asset Managers, a real estate asset management investment fund, plan for international expansion.
The fact is that a fund managed by SwissLife Asset Managers acquired a majority stake in Powy. This is a primary capital investment of 84 million euros, enabling the CPO to finance its growth plans throughout Europe, continuing the deployment of public charging points.
“Powy has proven to be in a unique position to rapidly develop its electric vehicle charging network in premium locations, and we are now delighted to continue this work alongside SwissLife Asset Managers,” Fea stated at the time.
“In addition to the financial resources driving our ambitious growth plans throughout Europe, SwissLife Asset Managers will bring their extensive experience in developing high-growth companies, their proven ability to support the implementation of ESG practices and a broad investment portfolio,” he added.
