ChargePoint plans IPO as it expands to take on e-car boom

Frankfurt

CHARGEPOINT, operator of one of the world's largest charging station networks for electric cars, targets an initial public offering (IPO) within the next five years, as it expands further into Europe, its chief executive said.

Demand for electric cars depends on a network of charging points, which utilities, engineering groups, carmakers and startups are vying to provide and control before the sector takes off. French utility Engie has bought Dutch firm EV-Box, Germany's Innogy is moving into the United States and ChargePoint, with BMW, Daimler and Siemens among its owners, has entered Europe.