Electric vehicle chargers for everyone
The Amina charger is based on the technology of Folkeladeren, an electric vehicle charger developed by Euromatic AS, which was acquired by Amina Charging in 2021. It is designed to provide short installation time, low costs for the end user, sufficient charging speed, and the possibility of smart charging through a third-party application. Since 2018, Folkeladeren has sold over 8,000 units, and in 2021 Euromatic was named a gazelle company by Dagens Næringsliv.
The company’s business model is to develop an electric vehicle charger that is simpler and more affordable than what is currently offered in the market. This is a market with strong underlying growth as electric vehicles represent an increasingly larger share of new car sales not only in Norway, but also in Europe. Norway is a pioneer in electric vehicles with the highest adoption rate in the world at approximately 25 percent of the vehicle fleet.
Electrification of the global vehicle fleet is central to zero emissions
Electrification of the transport sector will be crucial to achieving a net-zero emissions society. In 2018, CO2 emissions from the transport sector amounted to 8 billion tons, equivalent to 20 percent of global emissions. Three-quarters of these emissions are linked to passenger and freight transport. Population and income growth are expected to drive demand further, and the IEA estimates that passenger kilometers could double by 2070.
As a result of commitments to a net-zero emissions society, several car manufacturers have announced that they will only produce electric vehicles from a specific year. EY has estimated a European need for 13 million charging points by 2050 and 65 million by 2035, where approximately 85% of these will be home chargers. To date, only a few million electric vehicle chargers have been installed in Europe.
Amina’s enabling climate technology will be part of the solution as the global vehicle fleet becomes increasingly electrified. In a rapidly growing European market, Amina can capture significant market share with its simple, safe, and affordable electric vehicle charger.