MILAN (Reuters) – Energy storage and e-mobility firm Nhoa is considering teaming up with a partner to develop Atlante, its fast-charging network for electric vehicles (EV) in southern Europe, the Milan-based group said on Wednesday.
Launched in 2021, Atlante plans to further develop its current network of 1,200 charging points, with plans to install about 2,000 new stations across Italy, France, Portugal and Spain.
The entrance of a strategic partner is one of the options Nhoa is considering to expand its network to over 20,000 charging points by 2030, according to a presentation during the group’s capital market day.
Paris-listed Nhoa posted a core profit loss of 16.8 million euros in the first half of 2023, compared to a 5.8-million-euros loss in the same period of last year, due to investments in its capital-intensive EV charging unit.
The group expects to break even in 2025, CEO Carlalberto Guglielminotti told investors during the presentation in Milan.
The company improved its 2023 full-year sales outlook to 250-280 million euros from a previous target of 220-280 million, euros after a 48% revenue increase in the six months ending June.
(Reporting by Elvira Pollina, editing by Alvise Armellini and David Evans)
Disclaimer: This report is auto generated from the Reuters news service. ThePrint holds no responsibilty for its content.