©2021 Guidehouse Inc. Notice: No material in this publication may be reproduced, stored in a retrieval system, or transmitted by any means, in whole or in part, without the express written permission of Guidehouse, Inc .1 Research Report Guidehouse Insights Leaderboard: EV Charger Networking Companies Assessment of Strategy and Execution for 20 EV Charger Networking Companies Published 4Q 2021 Scott Shepard Principal Research Analyst Sam Abuelsamid Principal Research Analyst ©2021 Guidehouse Inc. Notice: No material in this publication may be reproduced, stored in a retrieval system, or transmitted by any means, in whole or in part, without the express written permission of Guidehouse, Inc .1 Guidehouse Insights Leaderboard: EV Charger Networking Companies Section 1 Executive Summary 1.1 Market Introduction The fleet of plug-in EVs is on course to grow massively as governments and corporations implement new targets for greenhouse gas (GHG) emissions. Guidehouse Insights’ report Market Data: EV Charging Equipment projects that over 185 million EVs will be in use by 2030 along with nearly 170 million charge points to support this fleet. This demand is producing a tremendous opportunity for charge point networking platforms. Networking platforms are needed to connect numerous entities in the EV charging ecosystem to deliver value-added services to EV drivers and fleet managers, charge point site hosts, fleet managers, and grid operators. For EV drivers and fleet managers, networking platforms help find available charge points, access pricing information, manage transactions, and participate in grid operator demand management programs. Site hosts use these platforms to broadcast charge point information, set pricing, control energy costs, and schedule maintenance and repairs. Meanwhile, grid operators communicate with platforms to encourage EV charging behaviors that benefit grid management objectives. This Leaderboard offers an evaluation of 20 leading providers of EV charging networking platforms. It complements Guidehouse Insights’ Market Data: EV Charging Equipment report, which details the market issues and demand drivers affecting the charging market and provides forecasts for the different types of charging technologies and their applications. The companies included in this report are not exhaustive. Many companies have been excluded because their platform was not competing in the market for publicly accessible charge points or their geographic presence was relatively limited. The criteria by which vendors are compared in this Leaderboard include: • Go-to-Market Strategy • Partners • Production Strategy • Geographic Reach • Sales • Product Portfolio • Staying Power • Innovation Detailed descriptions of each criterion are provided in the Criteria Definitions section of this report. ©2021 Guidehouse Inc. Notice: No material in this publication may be reproduced, stored in a retrieval system, or transmitted by any means, in whole or in part, without the express written permission of Guidehouse, Inc .2 Guidehouse Insights Leaderboard: EV Charger Networking Companies 1.2 The Guidehouse Insights Leaderboard Grid ChargePoint and Enel X are Leaders in this Leaderboard because they have secured strong positions in multiple charging applications in multiple geographies. ChargePoint leverages a strong solution for the destination charging market and has enhanced its presence in fast charging and fleets significantly with two acquisitions in 2021. Similarly, Enel X has one of the largest footprints globally and throughout the value chain. The company also leads in vehicle grid integration (VGI), positioning it to tap new networking services as EV charging becomes more accessible and powerful in the evolving EV market. In sum, this Leaderboard features two Leaders, three Contenders, 13 Challengers, and two Followers. Chart 1-1. The Guidehouse Insights Leaderboard Grid (Source: Guidehouse Insights) ©2021 Guidehouse Inc. Notice: No material in this publication may be reproduced, stored in a retrieval system, or transmitted by any means, in whole or in part, without the express written permission of Guidehouse, Inc .3 Guidehouse Insights Leaderboard: EV Charger Networking Companies Section 2 Market Overview 2.1 Market Definition EV charge points are typically composed of a hardware component that contains power electronics, cables, and connectors along with a software component. The software component contains varying layers that enable a series of local networking value-adds (e.g., monitoring EV charger usage) to more external networking value-adds (e.g., aggregating EVs into grid service markets). This report focuses on vendors in the market for software, which is often described by vendors as a cloud-based networking platform. Typically, networking platforms generate revenue through subscriptions or as a service pricing models. Often the payee is the site host; however, with grid integration capabilities, the payee could be the grid operator. External entities include companies that broadcast charge point information to EV drivers (also called electric mobility service providers [eMSPs]), other charge point networks and interoperability platforms, charge point maintenance technician networks, grid service markets, and utility demand management programs among others. This Guidehouse Insights Leaderboard evaluates companies that have developed a commercial networking platform for the EV charging market. Many companies operate in this space, so to limit scope, Guidehouse Insights focused on vendors that do the following: • Provide a competitive platform for the public charging market • Are leading competitors in North America, Europe, or China or have established an international presence These criteria exclude companies that are focused on the following services in the EV charging ecosystem: • eMSPs: These are typically companies that have developed or use a smartphone app to connect EV drivers to charge points in multiple networks. Example apps include PlugShare, Plugsurfing, and Chargemap. • Charge point operators (CPOs): These are companies that are developing charge point networks to sell charging services to EV drivers. These are often fast charge networks. Examples include Electrify America, IONITY, and Fastned. • Smart charging apps: A new and growing collection of companies are developing smart charging platforms for EV drivers. Examples include ev.energy, Jedlix, and Ohme. ©2021 Guidehouse Inc. Notice: No material in this publication may be reproduced, stored in a retrieval system, or transmitted by any means, in whole or in part, without the express written permission of Guidehouse, Inc .4 Guidehouse Insights Leaderboard: EV Charger Networking Companies • Vehicle-to-grid (V2G) platform providers: These companies typically focus on residential or fleet-based charging programs that aggregate bidirectional EV loads in grid service markets. Examples include Nuvve, Fermata Energy, and Kaluza. • Fleet or building integrators: These are companies that focus on developing charging solutions for the burgeoning fleet market or integrating EV loads with building systems. Examples include AMPLY, The Mobility House, and Schneider Electric. • Hardware providers: These are companies that produce conductive alternating current (AC), direct current (DC), or other vehicle charging systems. These companies often provide software capabilities for local value-adds such as charge point monitoring and load balancing. Examples include ABB, Siemens, and ClipperCreek. 2.2 Market Drivers The EV charger networking market is driven by a growing fleet of EVs. This fleet is set to grow dramatically through 2050 in all global regions. Government regulations for greenhouse gas (GHG) emissions reductions and corporate targets for decarbonization are pushing the industry to provide cost-competitive zero-emissions solutions. EVs are well-positioned to be the solution for the road transport sector because they are a commercial-ready solution for a zero-emissions energy supply chain. Plus, multiple markets are driving momentum for battery developments that promise to reduce costs and improve performance. Guidehouse Insights forecasts that over 185 million EVs will be in use in global markets by 2030. To power this burgeoning fleet, millions of charge points will need to be deployed at residences, workplaces, fleet depots, local destinations, retail fuel sites, and elsewhere. Though the value-adds will differ by location, networking platforms can offer value-adds to owners at all location types. As the market matures, Guidehouse Insights expects connectivity to continually progress through vehicles and infrastructure, making the implementation of advanced software solutions for charging less costly and more valuable to asset owners. 2.3 Market Barriers While the market for EV charging software has encouraging prospects, it also has challenges. These include progress on open standards and grid regulations for distributed energy resources (DER). ©2021 Guidehouse Inc. Notice: No material in this publication may be reproduced, stored in a retrieval system, or transmitted by any means, in whole or in part, without the express written permission of Guidehouse, Inc .5 Guidehouse Insights Leaderboard: EV Charger Networking Companies The open standards challenge pertains to hardware. Some providers of commercial software solutions produce hardware that is only compatible with their software. This situation limits the total addressable market that is competitive for networking platform providers. This strategy secures recurring revenue streams for the platform’s business based on hardware sales, and from this revenue, a competitor is well-positioned to launch a platform to manage other open standards- based hardware. While advantageous for the competitor’s platform, it does present risks to the hardware business. This scenario creates vendor lock-in, which some customers may resist, especially in fast charge services or fleet markets. However, adopting open standards too quickly may also present issues for the reliability of charging services—a risk for reputation. These reliability issues are becoming less frequent as the current open standards framework championed by the Open Charge Alliance is continuously improved. The challenge of grid regulations for DER pertains to the development of vehicle grid integration (VGI) services. To the grid, EVs can function just like a rooftop solar array or battery energy storage system positioned on the customer side of the meter. These resources can be aggregated to form a virtual power plant that can then be used in grid management programs. For charge point/EV owners, this value-add would likely be realized as reduced infrastructure costs; for grid operators, it is likely realized as reduced grid management costs, and for software suppliers, it is a new revenue stream. However, the challenge is that grid regulations for interconnection are designed around large centralized assets rather than DER that have much smaller capacities. The lack of right-sized regulations for interconnection is often cited as a major complication in advanced VGI trials. As regulators and stakeholders determine best practices for DER integration, the opportunities for VGI are poised to expand. ©2021 Guidehouse Inc. Notice: No material in this publication may be reproduced, stored in a retrieval system, or transmitted by any means, in whole or in part, without the express written permission of Guidehouse, Inc .6 Guidehouse Insights Leaderboard: EV Charger Networking Companies 2.4 Market Trends Following the growth of the global EV fleet, Guidehouse Insights projects that nearly 170 million charge points will be deployed by 2030. Annual expenditures to manage these charge points for business, load balancing, or other purposes is projected to rise from near $660 million in 2021 to almost $8 billion by 2030. Chart 2-1. Charge Point Operations Revenue by Application, World Markets: 2020, 2025, 2030 $- $1,000 $2,000 $3,000 $4,000 $5,000 $6,000 $7,000 $8,000 $9,000 2020 2025 2030 ($ Millions)Fleet Fast Charge Services Destination Private (Source: Guidehouse Insights) Currently, the largest market for networking platforms is destination charging. Thousands of these charge points providing capacities below 25 kW are installed at hotels, shopping centers, parks, and other public parking locations. The services that these charge points provide are generally not seen as revenue-generating by site hosts; rather, they are seen as ways to increase EV adoption or attract customers to the site’s core business. Here, site hosts primarily need management platforms to connect the site to eMSPs and to manage any pricing options or access limitations that a site host might wish to implement. Somewhat distant is the market for fast charging services and fleets. Fast charging services have similar demands to the destination market but specific needs for maintenance. Therefore, platforms that can solve maintenance issues remotely or automatically connect to technician networks to provide physical services are desired. The fleet market has very different needs for destination and fast charge markets; however, integrating fleet operations with public networks is preferable. Beyond this need, fleets are also likely to have significant demands for behind-the-meter load balancing and in the long term, increasing demands for VGI. ©2021 Guidehouse Inc. Notice: No material in this publication may be reproduced, stored in a retrieval system, or transmitted by any means, in whole or in part, without the express written permission of Guidehouse, Inc .7 Guidehouse Insights Leaderboard: EV Charger Networking Companies Private charging—the smallest market as of late 2021—is expected to become the largest in the long term. The market is composed of charge points installed at homes, apartment complexes, and workplaces. There are many charge points to manage in this market, and the value-add of charge point platforms to this market is relatively limited. As the market evolves, Guidehouse Insights expects apartment complexes and workplaces to look to management platforms first for load balancing as an alternative to electrical capacity upgrades then to management platforms for VGI in the long term. The home charging market is expected to be a longer-term opportunity almost entirely dependent on VGI. This market is likely to become highly competitive, and a growing number of companies are developing solutions for this space. Here, establishing relationships with customer gatekeepers such as automakers and electricity retailers will be critical to securing market-leading roles. ©2021 Guidehouse Inc. Notice: No material in this publication may be reproduced, stored in a retrieval system, or transmitted by any means, in whole or in part, without the express written permission of Guidehouse, Inc .8 Guidehouse Insights Leaderboard: EV Charger Networking Companies Section 3 The Guidehouse Insights Leaderboard 3.1 The Guidehouse Insights Leaderboard Categories Guidehouse Insights scored the vendors in this Guidehouse Insights Leaderboard according to four categories: Leaders, Contenders, Challengers, and Followers. These categories are defined here. 3.1.1 Leaders Leaders are vendors that scored 75 or above in both strategy and execution. These companies have clearly differentiated themselves from the competition through exceptional product development and positioned themselves well in geographic and charging markets. Leaders are currently best positioned for long-term success in the networking platform market. 3.1.2 Contenders Contenders are vendors that scored between 50 and 75 in both strategy and execution. These companies are well-positioned to become Leaders, but they need to expand their existing business to do so. 3.1.3 Challengers Challengers are vendors that scored higher than 25 in strategy and execution but are not yet Contenders for market leadership. These companies are fundamentally sound, but they need to demonstrate strong growth or prospects to move into the Contenders category. 3.1.4 Followers Followers are vendors that scored below 25 in strategy and execution. These companies are not currently expected to challenge the Leaders unless they can demonstrate substantial gains in resources, geographic presence, or market share. 3.2 The Guidehouse Insights Leaderboard Grid The market for networking platforms has undergone considerable change. Many original participants adopted vertically integrated business models with activities in all or many areas of the EV charging services value chain. Some of these participants have begun the process of divesting from some activities to focus on more specific markets. For some that have not yet divested, it is unclear whether they will divest and if they do, whether their divestment will be for their platform or other activities. ©2021 Guidehouse Inc. Notice: No material in this publication may be reproduced, stored in a retrieval system, or transmitted by any means, in whole or in part, without the express written permission of Guidehouse, Inc .9 Guidehouse Insights Leaderboard: EV Charger Networking Companies Two companies have proven themselves as Leaders: ChargePoint and Enel X. ChargePoint has consistently focused on streamlining the customer experience and has established a firm lead in the North American market. It has also established and grown a substantial European and fleet services footprint. Enel X has been broadening its geographic footprint and deepening its capabilities for years. It is well-positioned to seize growth from emerging markets and from VGI trends. Chart 3-1. The Guidehouse Insights Leaderboard Grid (Source: Guidehouse Insights) ©2021 Guidehouse Inc. Notice: No material in this publication may be reproduced, stored in a retrieval system, or transmitted by any means, in whole or in part, without the express written permission of Guidehouse, Inc .10 Guidehouse Insights Leaderboard: EV Charger Networking Companies Table 3-1 shows the 20 companies analyzed in this report. Of these, two are Leaders, three are Contenders, 10 are Challengers, and five are Followers. Table 3-1. The Guidehouse Insights Leaderboard Overall Scores Rank Company Score 1 ChargePoint 85.9 2 Shell Recharge Solutions 82.3 3 Enel X 81.5 4 EVBox Group 73.2 5 Driivz 65.5 6 Virta 52.6 7 GreenFlux 44.1 8 Fortum Charge & Drive 42.8 9 Star Charge 41.6 10 FLO | AddEnergie 41.3 11 innogy eMobility Solutions 40.0 12 Etrel 39.3 13 Blink Charging 39.3 14 Last Mile Solutions 39.0 15 SemaConnect 34.4 16 ubitricity 31.9 17 Telaidian 29.8 18 bp pulse 29.3 19 EV Connect 28.4 20 Pod Point 19.7 (Source: Guidehouse Insights) ©2021 Guidehouse Inc. Notice: No material in this publication may be reproduced, stored in a retrieval system, or transmitted by any means, in whole or in part, without the express written permission of Guidehouse, Inc .11 Guidehouse Insights Leaderboard: EV Charger Networking Companies Section 4 Company Rankings 4.1 Leaders To qualify for the Leaders category, companies must score 75 or higher in both strategy and execution. These companies have activities across the value chain and are operating in multiple major global markets. These companies have also made names for themselves with innovative business models and technologies. This report features two Leaders: ChargePoint and Enel X. 4.1.1 ChargePoint Overall Score: 85.9 Strategy: 77.5 Execution: 93.5 Based in Campbell, California, ChargePoint became publicly traded in 2020 via a merger with a special purpose acquisition company (SPAC). Founded in 2007, the company leads the North American market and has realized strong growth in Europe. ChargePoint is well known in the industry for establishing an Airbnb-like model for EV charging network development. Since its initial business model development, the company has adapted well to stay at the forefront of market developments. Notable achievements in this regard include the acquisition of Kisensum in 2018, which bolstered ChargePoint’s load balancing capabilities; partnerships with most major North American EV charging networks in 2019 and 2020 to enable e-roaming; and the acquisitions of ViriCiti and has·to·be in 2021. The ViriCiti acquisition bolstered ChargePoint’s fleet electrification solutions, and the has·to·be acquisition bolstered its European presence. ©2021 Guidehouse Inc. Notice: No material in this publication may be reproduced, stored in a retrieval system, or transmitted by any means, in whole or in part, without the express written permission of Guidehouse, Inc .12 Guidehouse Insights Leaderboard: EV Charger Networking Companies As the EV industry evolves, standards are expected to become increasingly important. ChargePoint has been strategic in its adoption of specific standards before they attain regulatory approval, such as Open Charge Point Protocol (OCPP) for its hardware and ISO 15118 while other market players have been more hesitant in terms of standards adoption. ChargePoint’s approach has advantages in terms of business strategy and ensuring technology reliability, but it also presents risks that could affect growth in markets sensitive to interoperability issues. As of late 2021, ChargePoint has been skillful at managing these risks. www.chargepoint.com Chart 4-1. ChargePoint Strategy and Execution Scores - 10 20 30 40 50 60 70 80 90 100 Innovation Staying Power Product Portfolio Sales Geographic Reach Product Strategy Partners Go-to-Market Strategy ExecutionStrategy (Source: Guidehouse Insights) ©2021 Guidehouse Inc. Notice: No material in this publication may be reproduced, stored in a retrieval system, or transmitted by any means, in whole or in part, without the express written permission of Guidehouse, Inc .13 Guidehouse Insights Leaderboard: EV Charger Networking Companies 4.1.2 Enel X Overall Score: 81.5 Strategy: 84.0 Execution: 79.0 Based in Rome, Italy, Enel X is a subsidiary of the global energy and infrastructure company Enel Group. Enel X is the technology innovation division that focuses on distributed energy, microgrids, and e-mobility among a number of other solutions for consumers, industry, and cities. With a strong background in demand response and a large global footprint, Enel X is in an excellent position to be a disruptive force in e-mobility on many fronts. In the EV charging industry, Enel X has long been at the forefront of VGI, both as a leader in current technology V2G trials and in commercializing smart charging. Enel X’s acquisition of eMotorWerks in 2017 was fundamental to enhancing its leadership in smart charging and expanding its global presence to North America. The company’s footprint in EV charging is large. Enel X provides a broad range of solutions to a long list of geographies. It has the largest footprint of the companies analyzed in this report. In North America, it is strongly positioned to support utility smart charging programs, an avenue into the potentially large residential charging market. In Europe, Enel X is seizing network development opportunities in emerging markets such as Spain, Romania, Russia, and its home market, Italy. In India and China, it is establishing a footprint for various portions of its EV charging business, and in Latin America, it is the leading charge point network developer. ©2021 Guidehouse Inc. Notice: No material in this publication may be reproduced, stored in a retrieval system, or transmitted by any means, in whole or in part, without the express written permission of Guidehouse, Inc .14 Guidehouse Insights Leaderboard: EV Charger Networking Companies While Enel X’s footprint is wide and its services are expansive, trends in the market could be disruptive to its leading position in VGI and residential charging. Specifically, the combination of increased bundling of dual-voltage cord sets in EV sales and the growing list of smart charging apps such as ev.energy, Jedlix, and Ohme could create competition for Enel X’s leadership position. www.enelx.com Chart 4-2. Enel X Strategy and Execution Scores - 10 20 30 40 50 60 70 80 90 100 Innovation Staying Power Product Portfolio Sales Geographic Reach Product Strategy Partners Go-to-Market Strategy ExecutionStrategy (Source: Guidehouse Insights) 4.2 Contenders Companies in the Contenders category score at least 50 in both strategy and execution. Three companies are identified as Contenders in this report: Shell Recharge Solutions, EVBox Group, and Driivz. Shell Recharge Solutions and EVBox have similar business models to the Leaders in this Leaderboard. Driivz is a pure-play platform provider and a leader in this sense among the companies in this report with similar business models, such as Virta, GreenFlux, and Last Mile Solutions. ©2021 Guidehouse Inc. Notice: No material in this publication may be reproduced, stored in a retrieval system, or transmitted by any means, in whole or in part, without the express written permission of Guidehouse, Inc .15 Guidehouse Insights Leaderboard: EV Charger Networking Companies 4.2.1 Shell Recharge Solutions (NewMotion and Greenlots) Overall Score: 82.3 Strategy: 91.5 Execution: 72.0 Announced in November 2021, NewMotion, based in Amsterdam, the Netherlands, and Greenlots, based in Los Angeles, California, will be rebranded as Shell Recharge Solutions in early 2022. NewMotion and Greenlots were acquired by Shell in 2017 and 2019, respectively. Founded in 2009, NewMotion was an early entrant into the fast-growing EV markets of Northwestern Europe focused on a holistic AC charging solution for site hosts and EV drivers. Meanwhile, Greenlots, which was founded in 2008, has been a leading charge point management platform used in North America and Southeast Asia. NewMotion established a strong lead in Europe early on by expanding its e-roaming network; as of 3Q 2021, its charge card and app users are connected to over 250,000 chargers across Europe. This gives the company a solid position to foster strong partnerships with regional market gatekeepers such as automakers and corporate fleet management companies looking for seamless charging solutions for their customers. Greenlots has developed a robust business in supporting private, fleet, and fast charging networks. Notable developments have come from its support of fast charging networks such as Electrify America, a number of smaller regional fast charge networks in North America, and the emerging Southeast Asian charging market. Success here has translated to momentum for its fleet business; the company was a key participant in one of the first real world demonstrations of Class 8 electric trucks via the Volvo LIGHTS project. ©2021 Guidehouse Inc. Notice: No material in this publication may be reproduced, stored in a retrieval system, or transmitted by any means, in whole or in part, without the express written permission of Guidehouse, Inc .16 Guidehouse Insights Leaderboard: EV Charger Networking Companies With a strong geographic presence and broad portfolio addressing all major charging applications from NewMotion and Greenlots, Shell Recharge Solutions is well-positioned to be a substantial player in the EV charger networking market. www.newmotion.com greenlots.com/shell-recharge-solutions Chart 4-3. Shell Recharge Solutions Strategy and Execution Scores - 10 20 30 40 50 60 70 80 90 100 Innovation Staying Power Product Portfolio Sales Geographic Reach Product Strategy Partners Go-to-Market Strategy ExecutionStrategy (Source: Guidehouse Insights) ©2021 Guidehouse Inc. Notice: No material in this publication may be reproduced, stored in a retrieval system, or transmitted by any means, in whole or in part, without the express written permission of Guidehouse, Inc .17 Guidehouse Insights Leaderboard: EV Charger Networking Companies 4.2.2 EVBox Group Overall Score: 73.2 Strategy: 78.0 Execution: 68.0 Based in Amsterdam, the Netherlands, EVBox Group consists of EVBox and its software platform brand Everon. Parent company EVBox spun off Everon in 2019 following EVBox’s acquisition by the major European utility ENGIE in 2017. Since then, Everon has been an independent entity under the ENGIE umbrella and a partner in EVBox’s business, which is focused on producing and deploying hardware. Together, the companies form the EVBox Group. From its beginnings, EVBox Group was quick to adopt open standards for its hardware. Adopting open standards makes for a more competitive hardware offering because it allows them to choose from a number of networking platforms including Everon. Spinning out Everon enables EVBox’s platform business to be more proactive while leveraging a strong hardware partner. It is unclear how successful Everon has been in gaining business independent of EVBox. As of late 2021, its success appears closely tied to EVBox’s success. This fact may not be too concerning because in late summer 2021, the company announced a new tender to install 300,000 charge points across Denmark by 2030 with the country’s largest energy and telecom group, Norlys. Additionally, EVBox Group is looking to go public through an SPAC merger with the hopes of raising nearly $500 million in proceeds. ©2021 Guidehouse Inc. Notice: No material in this publication may be reproduced, stored in a retrieval system, or transmitted by any means, in whole or in part, without the express written permission of Guidehouse, Inc .18 Guidehouse Insights Leaderboard: EV Charger Networking Companies The EVBox Group is a market leader in volume and has one of the strongest global footprints. However, concerns as to whether the SPAC deal will be successful due to the continuous delaying of the offering’s target date are weighing on the company’s scores. www.evbox.com/en/ Chart 4-4. EVBox Group Strategy and Execution Scores - 10 20 30 40 50 60 70 80 90 100 Innovation Staying Power Product Portfolio Sales Geographic Reach Product Strategy Partners Go-to-Market Strategy ExecutionStrategy (Source: Guidehouse Insights) ©2021 Guidehouse Inc. Notice: No material in this publication may be reproduced, stored in a retrieval system, or transmitted by any means, in whole or in part, without the express written permission of Guidehouse, Inc .19 Guidehouse Insights Leaderboard: EV Charger Networking Companies 4.2.3 Driivz Overall Score: 65.5 Strategy: 53.0 Execution: 76.0 Based in Tel Aviv, Israel, Driivz was founded in 2013 and is privately held with major investors coming from the energy, fuel retail, and automotive sectors. The company has a special position in the EV charging market in that it is a pure-play EV charging and energy management platform provider to CPOs and eMSPs. This white-label approach is highly attractive because it avoids potential conflicts of interest throughout the complex EV ecosystem. Driivz has a strong track record supporting major charging networks around the globe, such as EVgo and OBE Power in North America; Volvo, Mer, ESB ecars, CEZ E-mobility, and MOL in Europe; and e-Mobility Power in Japan. Public networks have strong demands for hardware flexibility to future-proof the technology. They also have strong demands for interoperability so that they can broaden their customer base. In this regard, it has been critical for Driivz to stay at the forefront of standards adoption. The company reports that its platform is compatible with over 200 OCPP-certified chargers; certified for OCPP 1.5 and 1.6; and compliant with OCPP 2.0.1, Open Charge Point Interface, and ISO 15118. ©2021 Guidehouse Inc. Notice: No material in this publication may be reproduced, stored in a retrieval system, or transmitted by any means, in whole or in part, without the express written permission of Guidehouse, Inc .20 Guidehouse Insights Leaderboard: EV Charger Networking Companies While Driivz’s approach works well for market-leading charging networks, it is less well-positioned to compete for chargers owned and operated by independent site hosts, which are not as sensitive to hardware interoperability. This near-term limitation may present a risk in the long term if public charging markets are disrupted by new charging approaches or business models. www.driivz.com Chart 4-5. Driivz Strategy and Execution Scores - 10 20 30 40 50 60 70 80 90 100 Innovation Staying Power Product Portfolio Sales Geographic Reach Product Strategy Partners Go-to-Market Strategy ExecutionStrategy (Source: Guidehouse Insights) ©2021 Guidehouse Inc. Notice: No material in this publication may be reproduced, stored in a retrieval system, or transmitted by any means, in whole or in part, without the express written permission of Guidehouse, Inc .21 Guidehouse Insights Leaderboard: EV Charger Networking Companies 4.3 Challengers Challengers are vendors that scored higher than 25 in strategy and execution. This report identifies 13 companies as Challengers. This group features companies focused on networking platforms and companies providing both hardware and platforms. 4.3.1 Virta Overall Score: 52.6 Strategy: 37.0 Execution: 64.5 Based in Helsinki, Finland, Virta provides a charge management platform for the European market. Founded in 2013, the company is private. As of April 2021, it closed €30 million ($35 million) in its latest funding round. It is backed by the Finnish energy company Helen and a number of Finnish utilities. Virta has also gained strategic backing from ENEOS, an energy company with 13,000 petroleum retail fueling sites in Japan, and major European energy company E.ON. Prior to the investment by E.ON, Virta had supported the energy company’s development of its EV charging network across Europe and partnered on V2G pilot projects in Finland. In regards to the latter, the company sees a strong opportunity with adoption of ISO 15118-20 and bidirectional-capable EVs moving V2G beyond pilot and demonstration projects. ©2021 Guidehouse Inc. Notice: No material in this publication may be reproduced, stored in a retrieval system, or transmitted by any means, in whole or in part, without the express written permission of Guidehouse, Inc .22 Guidehouse Insights Leaderboard: EV Charger Networking Companies Virta’s positioning for V2G is bold. The technology has drawn its skeptics, and V2G pure-plays have remained marginal for some time. To Virta’s credit, the indicators for V2G are encouraging. However, the actual implementation scale is likely to remain small due to a lack of bidirectional EVs from OEMs. This is changing with OEMs such as Ford, Hyundai, and others nearing launch of bidirectionally-capable EVs. Regardless, Virta’s confidence in V2G is likely to pay dividends in specific European geographies and with fleets. If Virta’s expectations of V2G are realized, it could very well be considered a Leader. However, it would need to establish a wider geographic footprint than Europe. An opportunity may exist in Japan via its backer ENEOS or in the US, which is seeing significant interest in V2G for electrification of school bus fleets. www.virta.global Chart 4-6. Virta Strategy and Execution Scores - 10 20 30 40 50 60 70 80 90 100 Innovation Staying Power Product Portfolio Sales Geographic Reach Product Strategy Partners Go-to-Market Strategy ExecutionStrategy (Source: Guidehouse Insights) ©2021 Guidehouse Inc. Notice: No material in this publication may be reproduced, stored in a retrieval system, or transmitted by any means, in whole or in part, without the express written permission of Guidehouse, Inc .23 Guidehouse Insights Leaderboard: EV Charger Networking Companies 4.3.2 GreenFlux Overall Score: 44.1 Strategy: 33.0 Execution: 53.0 Based in Amsterdam, the Netherlands, GreenFlux is a pure-play EV charging management platform. Founded in 2011, the company has also functioned as a CPO in the Netherlands and as an eMSP. In April 2020, these businesses were sold to Joulz. In mid-2021, GreenFlux was then acquired by the European fleet services company DKV. GreenFlux has a strong presence in VGI, which has led to multiple projects with utilities throughout Europe and Australia as of late 2020. Beyond utilities, GreenFlux also supports two major energy providers in Northwest Europe: Eneco and TotalEnergies. These companies present a strong foundation for future expansion of the company’s business into the public charging market. ©2021 Guidehouse Inc. Notice: No material in this publication may be reproduced, stored in a retrieval system, or transmitted by any means, in whole or in part, without the express written permission of Guidehouse, Inc .24 Guidehouse Insights Leaderboard: EV Charger Networking Companies Looking ahead, GreenFlux is well-positioned in Northwestern Europe and has strong prospects for growth throughout Europe leveraging its new parent’s presence in fleet services. DKV has a broad geographic footprint in the region with multiple connections to retail fueling sites and brands. As DKV develops its e-mobility solution, GreenFlux could be well-positioned to grow its European business. Prospects for growth abroad are currently limited. To move up in the rankings, the company will either have to grow quickly in Europe or achieve significant wins abroad. www.greenflux.com Chart 4-7. GreenFlux Strategy and Execution Scores - 10 20 30 40 50 60 70 80 90 100 Innovation Staying Power Product Portfolio Sales Geographic Reach Product Strategy Partners Go-to-Market Strategy ExecutionStrategy (Source: Guidehouse Insights) ©2021 Guidehouse Inc. Notice: No material in this publication may be reproduced, stored in a retrieval system, or transmitted by any means, in whole or in part, without the express written permission of Guidehouse, Inc .25 Guidehouse Insights Leaderboard: EV Charger Networking Companies 4.3.3 Fortum Charge & Drive Overall Score: 42.8 Strategy: 44.5 Execution: 41.0 Based in Espoo, Finland, Fortum was an early entrant in the market with its Charge & Drive platform. In 2018, the company acquired Berlin, Germany-based eMSP Plugsurfing. As of June 2021, Plugsurfing has over 200,000 charge points connected to its network. Fortum Charge & Drive supports the Recharge network formerly owned by Fortum, consisting of over 2,600 charge points in Scandinavia. It also supports CPOs across Europe and in the emerging market of India. The company has a strong geographic position at the forefront of EV charging innovations because Scandinavia is electrifying far faster than any other global market. In doing so, it is experimenting with leading technologies in hard-to-electrify segments much earlier than other geographies. For example, in 2018, the company announced it was supporting an electric aviation project in Finland, and in 2019, it announced its participation in a project to electrify taxi fleets using wireless chargers embedded in taxi queues in Oslo, Norway. ©2021 Guidehouse Inc. Notice: No material in this publication may be reproduced, stored in a retrieval system, or transmitted by any means, in whole or in part, without the express written permission of Guidehouse, Inc .26 Guidehouse Insights Leaderboard: EV Charger Networking Companies Fortum Charge & Drive’s geographic position is likely well-positioned to seize other innovative opportunities such as battery-swapping, which is arriving from Chinese EV makers soon. However, the company’s position is attractive to many competitors such as Virta and Shell Recharge Solutions, which have been gaining momentum in Charge & Drive’s core markets. Fortum will need to invest more in Charge & Drive to keep pace with these competitors. www.fortum.com Chart 4-8. Fortum Charge & Drive Strategy and Execution Scores - 10 20 30 40 50 60 70 80 90 100 Innovation Staying Power Product Portfolio Sales Geographic Reach Product Strategy Partners Go-to-Market Strategy ExecutionStrategy (Source: Guidehouse Insights) ©2021 Guidehouse Inc. Notice: No material in this publication may be reproduced, stored in a retrieval system, or transmitted by any means, in whole or in part, without the express written permission of Guidehouse, Inc .27 Guidehouse Insights Leaderboard: EV Charger Networking Companies 4.3.4 Star Charge Overall Score: 41.6 Strategy: 38.5 Execution: 44.5 Based in Changzhou, China, Star Charge is a hardware manufacturer and networking platform provider. Of the competitors analyzed in this report, it has the largest footprint of managed charge points with over 640,000 reported. The company was founded in 2014 and is the best positioned Chinese company in the EV charging space to disrupt the European and North American markets. In September 2020, it pulled in nearly $170 million in a Series A funding round led by Schneider Electric. In May 2021, it completed an undisclosed Series B funding round that placed the company’s valuation at a reported ¥15.5 billion ($2.3 billion). In late 2018, Star Charge took a first step toward a more global presence by collaborating with global interoperability platform Hubject. The collaboration brought Hubject into China and created an avenue for Star Charge to expand into Europe. Since the collaboration, Star Charge has begun to set up businesses in the main European EV markets of Germany, France, and Norway, but no significant market presence has yet been observed. ©2021 Guidehouse Inc. Notice: No material in this publication may be reproduced, stored in a retrieval system, or transmitted by any means, in whole or in part, without the express written permission of Guidehouse, Inc .28 Guidehouse Insights Leaderboard: EV Charger Networking Companies While Star Charge’s presence is significant, it is confined. Like many Chinese companies in the EV ecosystem, its volumes are large, but its geographic footprint is limited. It is unclear whether Star Charge’s success in China can be translated to Europe or North America. Much depends on what the company can bring to these markets in terms of price and technology differentiation. www.starcharge.com Chart 4-9. Star Charge Strategy and Execution Scores - 10 20 30 40 50 60 70 80 90 100 Innovation Staying Power Product Portfolio Sales Geographic Reach Product Strategy Partners Go-to-Market Strategy ExecutionStrategy (Source: Guidehouse Insights) 4.3.5 FLO | AddEnergie Overall Score: 41.3 Strategy: 47.5 Execution: 34.0 Based in Quebec, Canada, FLO | AddEnergie produces EV charging hardware and software solutions and operates FLO, one of the largest charging networks in Canada. Its business and network are in Canada and the US, and it is a private company with announced funding since late 2020 totaling around $85 million. ©2021 Guidehouse Inc. Notice: No material in this publication may be reproduced, stored in a retrieval system, or transmitted by any means, in whole or in part, without the express written permission of Guidehouse, Inc .29 Guidehouse Insights Leaderboard: EV Charger Networking Companies Since the company was founded, it has sold over 50,000 chargers, 1,000 of which are DC fast chargers. Besides operating FLO, FLO | AddEnergie also supports three other Canadian charge point networks: Electric Circuit in Montreal, eCharge in New Brunswick, and the BC Hydro EV network in British Columbia. In the US, it also supports numerous projects with cities and utility networks, and as of late 2020, it is supporting a Midwestern charge point network called Electrada. The company has distinguished itself in smart charging through utility projects and partnerships established with virtual power plant providers. In fleet electrification, it has also established a strong footprint by partnering with The Lion Electric Co., a leading supplier of electric trucks and buses based in Quebec. While the company has developed a strong business overall, its geographic footprint is relatively limited, resulting in scores that place it in the Challenger category. www.addenergietechnologies.com Chart 4-10. FLO | AddEnergie Strategy and Execution Scores - 10 20 30 40 50 60 70 80 90 100 Innovation Staying Power Product Portfolio Sales Geographic Reach Product Strategy Partners Go-to-Market Strategy ExecutionStrategy (Source: Guidehouse Insights) ©2021 Guidehouse Inc. Notice: No material in this publication may be reproduced, stored in a retrieval system, or transmitted by any means, in whole or in part, without the express written permission of Guidehouse, Inc .30 Guidehouse Insights Leaderboard: EV Charger Networking Companies 4.3.6 innogy eMobility Solutions Overall Score: 40.0 Strategy: 44.5 Execution: 35.0 Based in Essen, Germany, innogy eMobility Solutions is a subsidiary of the European energy company E.ON. The company originated from one of the first e-mobility businesses in Europe under another major European energy company, RWE. The e-mobility business along with RWE’s renewable energy and advanced technology businesses were spun out to form innogy in 2016. In 2018, E.ON announced its plan to acquire innogy, and in 2020, it completed the acquisition, bringing the eMobility Solutions division under its umbrella. innogy eMobility Solutions is active in Europe and North America with a portfolio of AC and DC charging hardware and software. In Europe, it has created an e-roaming network of over 185,000 charge points via a JV with DKV known as Charge4Europe. In North America, innogy eMobility Solutions acquired BTC Power, a DC fast charger supplier, and Recargo, owner of the popular EV charging app PlugShare, in 2018. As of July 2021, Recargo was sold to US-based EV charging company EVgo. innogy eMobility Solutions has also been an early adopter of open standards for both hardware and software. For software specifically, it has been at the leading edge of Plug&Charge as one of the original investors in the international e-roaming platform and Plug&Charge supporter Hubject. With Plug&Charge now becoming more common among EVs, this branding could be impactful. How impactful depends on how quickly EV manufacturers adopt Plug&Charge and how well other charge point platforms cut into the company’s Plug&Charge brand presence. ©2021 Guidehouse Inc. Notice: No material in this publication may be reproduced, stored in a retrieval system, or transmitted by any means, in whole or in part, without the express written permission of Guidehouse, Inc .31 Guidehouse Insights Leaderboard: EV Charger Networking Companies While the company has been a strong presence in the industry, its long-term presence as a platform provider on the global stage is unclear. E.ON has shown interest in competing software platform provider Virta by investing in the company and using it for its own Drive network. At the same time, Germany EV charging company Compleo is in negotiations with E.ON to carve out the European innogy eMobility Solutions business. www.innogy.com Chart 4-11. innogy eMobility Solutions Strategy and Execution Scores - 10 20 30 40 50 60 70 80 90 100 Innovation Staying Power Product Portfolio Sales Geographic Reach Product Strategy Partners Go-to-Market Strategy ExecutionStrategy (Source: Guidehouse Insights) ©2021 Guidehouse Inc. Notice: No material in this publication may be reproduced, stored in a retrieval system, or transmitted by any means, in whole or in part, without the express written permission of Guidehouse, Inc .32 Guidehouse Insights Leaderboard: EV Charger Networking Companies 4.3.7 Etrel Overall Score: 39.3 Strategy: 40.5 Execution: 38.0 Based in Grosuplje, Slovenia, Etrel was acquired by Landis+Gyr in mid-2021. The company is a producer of EV charging hardware and provides a software management platform called OCEAN. Founded in 2007, Etrel’s charging solutions have a strong presence with destination and fast charging networks throughout Europe. Etrel’s presence is strong in emerging EV markets of Central and Eastern Europe. Here the company has established itself with major telecom businesses, fuel retailers, and utilities supporting the development of networks with both hardware and software. Etrel is also part of the Generalized Operational FLEXibility or GOFLEX project, which aims to demonstrate the technological readiness of solutions for distributed flexibility and automated dynamic pricing to improve local electricity distribution systems. Etrel supports the project through its energy management capabilities developed for its platform. ©2021 Guidehouse Inc. Notice: No material in this publication may be reproduced, stored in a retrieval system, or transmitted by any means, in whole or in part, without the express written permission of Guidehouse, Inc .33 Guidehouse Insights Leaderboard: EV Charger Networking Companies With backing from Landis+Gyr and a strong geographic footprint in emerging EV markets, Etrel is well-positioned to develop into a strong competitor in the global EV charging market. With the Northwestern European markets being highly competitive, Etrel’s best opportunities will likely be in identifying and supporting nascent markets. Hence, to progress upward in the rankings, it will need to make a substantial footprint outside of Europe or acquire a presence in Northwest Europe. www.etrel.com Chart 4-12. Etrel Strategy and Execution Scores - 10 20 30 40 50 60 70 80 90 100 Innovation Staying Power Product Portfolio Sales Geographic Reach Product Strategy Partners Go-to-Market Strategy ExecutionStrategy (Source: Guidehouse Insights) ©2021 Guidehouse Inc. Notice: No material in this publication may be reproduced, stored in a retrieval system, or transmitted by any means, in whole or in part, without the express written permission of Guidehouse, Inc .34 Guidehouse Insights Leaderboard: EV Charger Networking Companies 4.3.8 Blink Charging Overall Score: 39.3 Strategy: 38.5 Execution: 40.0 Based in Miami Beach, Florida, Blink is a publicly traded company with origins tied to one of the earliest charge point networks developed by Ecotality. Originally founded as The Car Charging Group in 2009, it acquired several small EV charging companies, and in 2013, it acquired Ecotality’s assets, which significantly increased The Car Charging Group’s footprint. In 2017, the company was rebranded to Blink Charging—the original name of Ecotality’s charging network. The company’s business model includes multiple revenue streams, such as direct equipment sales, charge point operation, and a lease-like subscription model for site hosts. Throughout the company’s history it has grown organically and through acquisition. In 2020, it acquired two small networks in North America: U-Go Stations and complementary electric mobility service BlueLA. In 2021, it acquired the European charge point network Blue Corner, expanding its global network base by over 40%. ©2021 Guidehouse Inc. Notice: No material in this publication may be reproduced, stored in a retrieval system, or transmitted by any means, in whole or in part, without the express written permission of Guidehouse, Inc .35 Guidehouse Insights Leaderboard: EV Charger Networking Companies Blink has been discounted in past Leaderboard analyses for struggles inherent to acquisition being its primary method of growth and the reputation developed by its core business and technology originally established by Ecotality. Despite these challenges, Blink continues to grow, both through acquisitions and new tenders at commercial properties. It has also deployed a refreshed, attractive, and flexible technology stack. With a footprint in Europe, Blink’s prospects to be a Contender are much stronger. www.blinkcharging.com Chart 4-13. Blink Charging Strategy and Execution Scores - 10 20 30 40 50 60 70 80 90 100 Innovation Staying Power Product Portfolio Sales Geographic Reach Product Strategy Partners Go-to-Market Strategy ExecutionStrategy (Source: Guidehouse Insights) ©2021 Guidehouse Inc. Notice: No material in this publication may be reproduced, stored in a retrieval system, or transmitted by any means, in whole or in part, without the express written permission of Guidehouse, Inc .36 Guidehouse Insights Leaderboard: EV Charger Networking Companies 4.3.9 Last Mile Solutions Overall Score: 39.0 Strategy: 34.5 Execution: 43.0 Based in Rotterdam, the Netherlands, Last Mile Solutions is a pure-play EV charging management platform provider focused on providing white-label solutions to CPOs and eMSPs. Founded in 2007, the company is private, and in early 2021, it acquired backing from strategic partner Eurowag, which provides in-car navigation systems among other things. The partnership could prove valuable for Last Mile Solutions in providing white-labeled eMSP solutions to EV makers. Situated in one of the most competitive and innovative EV charging markets globally, Last Mile Solutions has been party to many developments in leading technologies such as V2G. As of April 2021, it is also supporting the pilot of conductive charge point deployments that are designed to be embedded in pavement. This new approach to charging presents some challenges, such as managing street debris and ergonomic issues tied to authorizing access. Access is often enabled by charge cards, and the pavement height of the charging hardware may present a challenge that is best solved by software. Despite these challenges, the approach presents a strong advantage for space reductions in space-constrained streets common in Europe. ©2021 Guidehouse Inc. Notice: No material in this publication may be reproduced, stored in a retrieval system, or transmitted by any means, in whole or in part, without the express written permission of Guidehouse, Inc .37 Guidehouse Insights Leaderboard: EV Charger Networking Companies Last Mile Solutions is firmly positioned in the most competitive European EV charging markets and is making progress in emerging Central and Eastern European markets. It has also achieved a footprint abroad in the Caribbean. The organic growth of the company is encouraging; however, to progress higher in the rankings, it would need to establish a stronger geographic footprint abroad that likely requires raising significant capital. www.last-mile-solutions.com Chart 4-14. Last Mile Solutions Strategy and Execution Scores - 10 20 30 40 50 60 70 80 90 100 Innovation Staying Power Product Portfolio Sales Geographic Reach Product Strategy Partners Go-to-Market Strategy ExecutionStrategy (Source: Guidehouse Insights) ©2021 Guidehouse Inc. Notice: No material in this publication may be reproduced, stored in a retrieval system, or transmitted by any means, in whole or in part, without the express written permission of Guidehouse, Inc .38 Guidehouse Insights Leaderboard: EV Charger Networking Companies 4.3.10 SemaConnect Overall Score: 34.4 Strategy: 41.5 Execution: 25.5 Based in Bowie, Maryland, SemaConnect provides AC charging hardware and a networking platform for multiple EV charging applications. Founded in 2008, the private company has a footprint in the US and India. As of late 2020, it has acquired backing from North American private equity firm Trilantic Capital Partners. In 2017, SemaConnect expanded its reach in North America significantly when it was chosen alongside other North American competitors to support Electrify America’s deployment of 2,800 chargers to multi-unit dwellings and workplaces. In 2020, SemaConnect also reached a reseller agreement with the massive global retail fuel technology supplier Gilbarco Veeder-Root, which has also made strategic investments in leading startups in the DC fast charging space such as Tritium. ©2021 Guidehouse Inc. Notice: No material in this publication may be reproduced, stored in a retrieval system, or transmitted by any means, in whole or in part, without the express written permission of Guidehouse, Inc .39 Guidehouse Insights Leaderboard: EV Charger Networking Companies The company is a competitor to ChargePoint and FLO | AddEnergie in North America and is one of few companies examined by this report to have a footprint in India. The company’s solution for private networks is strong, but its portfolio is partial without DC or VGI capabilities. These gaps limit the applicability of the company’s network platform for fast charge services and heavy commercial fleets. www.semaconnect.com Chart 4-15. SemaConnect Strategy and Execution Scores (Source: Guidehouse Insights) - 10 20 30 40 50 60 70 80 90 100 Innovation Staying Power Product Portfolio Sales Geographic Reach Product Strategy Partners Go-to-Market Strategy ExecutionStrategy ©2021 Guidehouse Inc. Notice: No material in this publication may be reproduced, stored in a retrieval system, or transmitted by any means, in whole or in part, without the express written permission of Guidehouse, Inc .40 Guidehouse Insights Leaderboard: EV Charger Networking Companies 4.3.11 ubitricity Overall Score: 31.9 Strategy: 37.5 Execution: 25.0 Based in Berlin, Germany, ubitricity is a developer of public charging solutions designed to integrate with existing infrastructure such as light poles. Branded as the Simple Socket, the hardware is a compact AC charge point designed to integrate with three common built infrastructure platforms—a wall box, a bollard, and a light pole. The light pole variant has observed significant market interest in Europe where street space is limited. Supplementing the hardware is the company’s software solution, ubiCharge, which handles user access and authorization, e-roaming, and all other standard management functions. The company was founded in 2008 and was private until early 2021 when it was acquired by Shell. Shell has ambitious plans for ubitricity, intending to increase the company’s network within the UK from around 3,600 charge points (as reported in September 2021) to 50,000 by the end of 2025. Outside of the UK, the company’s business is growing throughout Europe with the first stations deployed to France, Switzerland, and Ireland since October 2020. Additionally, the company has plotted an entrance into China via a partnership with Chinese construction and engineering company MECOM. ©2021 Guidehouse Inc. Notice: No material in this publication may be reproduced, stored in a retrieval system, or transmitted by any means, in whole or in part, without the express written permission of Guidehouse, Inc .41 Guidehouse Insights Leaderboard: EV Charger Networking Companies ubitricity brings an innovative and unique hardware solution to the market with potential for strong organic growth from city governments. This fact and Shell’s backing are highly indicative that the company is poised for significant growth. While ubitricity’s position is encouraging, its portfolio is partial compared to other players examined in this report. This is limiting for the fleet market in the near term, it could be a risk in the long term if the EV market shifts more strongly toward DC fast charging. www.ubitricity.com Chart 4-16. ubitricity Strategy and Execution Scores (Source: Guidehouse Insights) - 10 20 30 40 50 60 70 80 90 100 Innovation Staying Power Product Portfolio Sales Geographic Reach Product Strategy Partners Go-to-Market Strategy ExecutionStrategy ©2021 Guidehouse Inc. Notice: No material in this publication may be reproduced, stored in a retrieval system, or transmitted by any means, in whole or in part, without the express written permission of Guidehouse, Inc .42 Guidehouse Insights Leaderboard: EV Charger Networking Companies 4.3.12 Telaidian Overall Score: 29.8 Strategy: 29.5 Execution: 30.0 Based in Hong Kong, China, Telaidian is the EV charging solutions division of TGOOD, a publicly traded company with a core business in power and automation. It entered the EV charging market in 2015 and has reported over 350,000 charge point installations. The company provides a broad range of hardware solutions alongside its networking platform. As of August 2021, Telaidian is also working with one of China’s EV startups, ARCFOX, to develop seamless charging access and authorization for ARCFOX drivers. As one of the largest charge point networks, Telaidian is a major participant in the JV established with China’s two major state-owned utilities and Star Charge. The JV was established in 2019 and is now called UNIEV. As of late 2020, it has interconnected charge points of over 200 operators, amounting to 540,000 charge points. ©2021 Guidehouse Inc. Notice: No material in this publication may be reproduced, stored in a retrieval system, or transmitted by any means, in whole or in part, without the express written permission of Guidehouse, Inc .43 Guidehouse Insights Leaderboard: EV Charger Networking Companies Telaidian’s EV charging activities are primarily in China, but it has multiple legacy markets that could serve as beachheads for international expansion. Though this potential exists, no international expansions have been identified. The company is not expected to have a significant impact on the global stage until it takes steps to establish an international presence. www.teld.cn Chart 4-17. Telaidian Strategy and Execution Scores - 10 20 30 40 50 60 70 80 90 100 Innovation Staying Power Product Portfolio Sales Geographic Reach Product Strategy Partners Go-to-Market Strategy ExecutionStrategy (Source: Guidehouse Insights) ©2021 Guidehouse Inc. Notice: No material in this publication may be reproduced, stored in a retrieval system, or transmitted by any means, in whole or in part, without the express written permission of Guidehouse, Inc .44 Guidehouse Insights Leaderboard: EV Charger Networking Companies 4.3.13 EV Connect Overall Score: 28.4 Strategy: 25.0 Execution: 31.5 Based in El Segundo, California, EV Connect is a private company leveraging an EV charge point management platform. The company has a workforce of nearly 100 people and has raised over $35 million since its founding in 2010. The company has developed business in the US, Australia, and Canada as of July 2020. Regarding the latter, EV Connect acquired a 200 charge point network in Toronto known as MyEVRoute. EV Connect has also established a footprint in one of the most attractive markets for V2G: the US school bus market. In early 2021, it announced that its platform will be used in a V2G trial for an Indiana school bus fleet. EV Connect has also had notable wins with high profile projects such as Electrify America and a fast charging network in Australia called Evie. ©2021 Guidehouse Inc. Notice: No material in this publication may be reproduced, stored in a retrieval system, or transmitted by any means, in whole or in part, without the express written permission of Guidehouse, Inc .45 Guidehouse Insights Leaderboard: EV Charger Networking Companies The company has proven adept at winning notable projects and staying at the leading edge of business model and technological developments. However, relative to the competition, its fundraising haul is small. Given heavy competition in private and destination charging markets, further developing its advanced capabilities for the emergent fleet market will be key for differentiation and growth. www.evconnect.com Chart 4-18. EV Connect Strategy and Execution Scores (Source: Guidehouse Insights) - 10 20 30 40 50 60 70 80 90 100 Innovation Staying Power Product Portfolio Sales Geographic Reach Product Strategy Partners Go-to-Market Strategy ExecutionStrategy ©2021 Guidehouse Inc. Notice: No material in this publication may be reproduced, stored in a retrieval system, or transmitted by any means, in whole or in part, without the express written permission of Guidehouse, Inc .46 Guidehouse Insights Leaderboard: EV Charger Networking Companies 4.4 Followers Followers are vendors that scored below 25 in Strategy or Execution. Two companies are identified as Followers in this report. These competitors provide a hardware solution alongside their platform. 4.4.1 bp pulse Overall Score: 29.3 Strategy: 36.0 Execution: 20.5 Based in Luton, UK, bp pulse was formerly Chargemaster. The company was acquired by BP in 2018 and rebranded to bp pulse in late 2020. The company brings a vertically integrated hardware and network platform solution to the market and has built out a UK charge point network of over 8,000 charge points. The German brand of bp pulse, Aral pulse, has developed a network of 500 charge points as of late 2021. With an estimated 4,000 conventional retail fuel sites under BP brands in Germany, Austria, Switzerland, the Netherlands, and Poland, bp pulse is positioned to have a broad footprint across the public fast charging market on the continent. Globally, BP’s retail site footprint is over 20,000 charge points with plans to grow in India. This could be leverage for expanding into private network, destination, and fleet charge point markets abroad. Additionally, plans for the domestic UK market are also encouraging with BP looking to double the number of charge points by 2030, including the development of ultra-fast charging hubs. ©2021 Guidehouse Inc. Notice: No material in this publication may be reproduced, stored in a retrieval system, or transmitted by any means, in whole or in part, without the express written permission of Guidehouse, Inc .47 Guidehouse Insights Leaderboard: EV Charger Networking Companies The backing of BP is a strong potential driver for future growth and global footprint for bp pulse. In its domestic market, a lack of presence in VGI could limit prospects for residential, private network, and fleet businesses as multiple competitors in the UK are developing advanced competitive solutions in this area. www.bppulse.co.uk Chart 4-19. bp pulse Strategy and Execution Scores - 10 20 30 40 50 60 70 80 90 100 Innovation Staying Power Product Portfolio Sales Geographic Reach Product Strategy Partners Go-to-Market Strategy ExecutionStrategy (Source: Guidehouse Insights) 4.4.2 Pod Point Overall Score: 19.7 Strategy: 22.0 Execution: 17.0 Based in London, UK, Pod Point develops EV charging hardware and leverages a charge point management platform to run its own public charging network and services for fleet and private charging network markets. The company was founded in 2009 and has shipped over 100,000 charge points to the UK and Norwegian markets. ©2021 Guidehouse Inc. Notice: No material in this publication may be reproduced, stored in a retrieval system, or transmitted by any means, in whole or in part, without the express written permission of Guidehouse, Inc .48 Guidehouse Insights Leaderboard: EV Charger Networking Companies In early 2020, Pod Point was acquired by European energy company EDF, which has legacy businesses in the UK, France, Belgium, and Italy. The Pod Point acquisition bolstered EDF’s e-mobility growth strategy in the UK, but it is unclear if Pod Point’s software capabilities will be a part of EDF’s solutions for its other European markets. In these markets, EDF is developing its e-mobility services through IZIVIA—the rebrand of the company’s original e-mobility business known as Sodetrel. As of late 2021, Pod Point reports a UK-based charge point network of over 5,000 charge points. In recent years, it has made major wins in the country via site installations for grocery chains such as Lidl and Tesco. Though the company has a strong presence in the UK, prospects for wider impacts with EV charging management are likely limited. Within the UK, the company has not been at the forefront of VGI activities, which could be damaging for growth prospects in other non-public charging markets. To move up in the rankings, it is most necessary for Pod Point to establish a larger footprint in Europe or further abroad. www.pod-point.com Chart 4-20. Pod Point Strategy and Execution Scores - 10 20 30 40 50 60 70 80 90 100 Innovation Staying Power Product Portfolio Sales Geographic Reach Product Strategy Partners Go-to-Market Strategy ExecutionStrategy (Source: Guidehouse Insights) ©2021 Guidehouse Inc. Notice: No material in this publication may be reproduced, stored in a retrieval system, or transmitted by any means, in whole or in part, without the express written permission of Guidehouse, Inc .49 Guidehouse Insights Leaderboard: EV Charger Networking Companies Section 5 Acronym and Abbreviation List AC ........................................................................................................................ Alternating Current CAGR .............................................................................................. Compound Annual Growth Rate CPO................................................................................................................ Charge Point Operator DC ................................................................................................................................ Direct Current DER .................................................................................................... Distributed Energy Resources eMSP............................................................................................. Electric Mobility Service Provider EV .............................................................................................................................. Electric Vehicle GHG ........................................................................................................................ Greenhouse Gas JV .................................................................................................................................. Joint Venture kW ......................................................................................................................................... Kilowatt OCPP .................................................................................................... Open Charge Point Protocol OEM .............................................................................................. Original Equipment Manufacturer SPAC..................................................................................... Special Purpose Acquisition Company UK ............................................................................................................................ United Kingdom US ................................................................................................................................ United States VGI ............................................................................................................... Vehicle Grid Integration V2G ............................................................................................................................ Vehicle-to-Grid ©2021 Guidehouse Inc. Notice: No material in this publication may be reproduced, stored in a retrieval system, or transmitted by any means, in whole or in part, without the express written permission of Guidehouse, Inc .50 Guidehouse Insights Leaderboard: EV Charger Networking Companies Section 6 Table of Contents Section 1 ......................................................................................................................................... 1 Executive Summary ....................................................................................................................... 1 1.1 Market Introduction .......................................................................................................... 1 1.2 The Guidehouse Insights Leaderboard Grid .................................................................... 2 Section 2 ......................................................................................................................................... 3 Market Overview ............................................................................................................................. 3 2.1 Market Definition .............................................................................................................. 3 2.2 Market Drivers .................................................................................................................. 4 2.3 Market Barriers ................................................................................................................. 4 2.4 Market Trends .................................................................................................................. 6 Section 3 ......................................................................................................................................... 8 The Guidehouse Insights Leaderboard ....................................................................................... 8 3.1 The Guidehouse Insights Leaderboard Categories ......................................................... 8 3.1.1 Leaders ....................................................................................................................... 8 3.1.2 Contenders ................................................................................................................. 8 3.1.3 Challengers ................................................................................................................ 8 3.1.4 Followers .................................................................................................................... 8 3.2 The Guidehouse Insights Leaderboard Grid .................................................................... 8 Section 4 ....................................................................................................................................... 11 Company Rankings ...................................................................................................................... 11 4.1 Leaders .......................................................................................................................... 11 4.1.1 ChargePoint.............................................................................................................. 11 4.1.2 Enel X ....................................................................................................................... 13 4.2 Contenders ..................................................................................................................... 14 ©2021 Guidehouse Inc. Notice: No material in this publication may be reproduced, stored in a retrieval system, or transmitted by any means, in whole or in part, without the express written permission of Guidehouse, Inc .51 Guidehouse Insights Leaderboard: EV Charger Networking Companies 4.2.1 Shell Recharge Solutions (NewMotion and Greenlots) ............................................ 15 4.2.2 EVBox Group ........................................................................................................... 17 4.2.3 Driivz ......................................................................................................................... 19 4.3 Challengers .................................................................................................................... 21 4.3.1 Virta .......................................................................................................................... 21 4.3.2 GreenFlux ................................................................................................................. 23 4.3.3 Fortum Charge & Drive ............................................................................................ 25 4.3.4 Star Charge .............................................................................................................. 27 4.3.5 FLO | AddEnergie ..................................................................................................... 28 4.3.6 innogy eMobility Solutions ........................................................................................ 30 4.3.7 Etrel .......................................................................................................................... 32 4.3.8 Blink Charging .......................................................................................................... 34 4.3.9 Last Mile Solutions ................................................................................................... 36 4.3.10 SemaConnect ...................................................................................................... 38 4.3.11 ubitricity ................................................................................................................ 40 4.3.12 Telaidian ............................................................................................................... 42 4.3.13 EV Connect .......................................................................................................... 44 4.4 Followers ........................................................................................................................ 46 4.4.1 bp pulse .................................................................................................................... 46 4.4.2 Pod Point .................................................................................................................. 47 Section 5 ....................................................................................................................................... 49 Acronym and Abbreviation List .................................................................................................. 49 Section 6 ....................................................................................................................................... 50 Table of Contents ......................................................................................................................... 50 Section 7 ....................................................................................................................................... 53 Table of Charts and Figures ....................................................................................................... 53 ©2021 Guidehouse Inc. Notice: No material in this publication may be reproduced, stored in a retrieval system, or transmitted by any means, in whole or in part, without the express written permission of Guidehouse, Inc .52 Guidehouse Insights Leaderboard: EV Charger Networking Companies Section 8 ....................................................................................................................................... 55 Scope of Study and Methodology .............................................................................................. 55 8.1 Scope of Study ............................................................................................................... 55 8.2 Sources and Methodology ............................................................................................. 55 8.2.1 Vendor Selection ...................................................................................................... 56 8.2.2 Ratings Scale ........................................................................................................... 56 8.2.2.1 Score Calculations ........................................................................................... 56 8.2.3 Criteria Definitions .................................................................................................... 57 8.2.3.1 Strategy ........................................................................................................... 57 8.2.3.2 Execution ......................................................................................................... 58 ©2021 Guidehouse Inc. Notice: No material in this publication may be reproduced, stored in a retrieval system, or transmitted by any means, in whole or in part, without the express written permission of Guidehouse, Inc .53 Guidehouse Insights Leaderboard: EV Charger Networking Companies Section 7 Table of Charts and Figures Chart 1-1. The Guidehouse Insights Leaderboard Grid .............................................................. 2 Chart 2-1. Charge Point Operations Revenue by Application, World Markets: 2020, 2025, 2030 ............................................................................................................................ 6 Chart 3-1. The Guidehouse Insights Leaderboard Grid .............................................................. 9 Chart 4-1. ChargePoint Strategy and Execution Scores ........................................................... 12 Chart 4-2. Enel X Strategy and Execution Scores .................................................................... 14 Chart 4-3. Shell Recharge Solutions Strategy and Execution Scores ...................................... 16 Chart 4-4. EVBox Group Strategy and Execution Scores ......................................................... 18 Chart 4-5. Driivz Strategy and Execution Scores ...................................................................... 20 Chart 4-6. Virta Strategy and Execution Scores........................................................................ 22 Chart 4-7. GreenFlux Strategy and Execution Scores .............................................................. 24 Chart 4-8. Fortum Charge & Drive Strategy and Execution Scores .......................................... 26 Chart 4-9. Star Charge Strategy and Execution Scores ........................................................... 28 Chart 4-10. FLO | AddEnergie Strategy and Execution Scores .................................................. 29 Chart 4-11. innogy eMobility Solutions Strategy and Execution Scores ..................................... 31 Chart 4-12. Etrel Strategy and Execution Scores........................................................................ 33 Chart 4-13. Blink Charging Strategy and Execution Scores ....................................................... 35 Chart 4-14. Last Mile Solutions Strategy and Execution Scores ................................................. 37 Chart 4-15. SemaConnect Strategy and Execution Scores ........................................................ 39 Chart 4-16. ubitricity Strategy and Execution Scores .................................................................. 41 Chart 4-17. Telaidian Strategy and Execution Scores ................................................................ 43 Chart 4-18. EV Connect Strategy and Execution Scores ............................................................ 45 Chart 4-19. bp pulse Strategy and Execution Scores ................................................................. 47 ©2021 Guidehouse Inc. Notice: No material in this publication may be reproduced, stored in a retrieval system, or transmitted by any means, in whole or in part, without the express written permission of Guidehouse, Inc .54 Guidehouse Insights Leaderboard: EV Charger Networking Companies Table 3-1. The Guidehouse Insights Leaderboard Overall Scores ........................................... 10 ©2021 Guidehouse Inc. Notice: No material in this publication may be reproduced, stored in a retrieval system, or transmitted by any means, in whole or in part, without the express written permission of Guidehouse, Inc .55 Guidehouse Insights Leaderboard: EV Charger Networking Companies Section 8 Scope of Study and Methodology 8.1 Scope of Study Guidehouse Insights has prepared this report to provide an analysis of the current vendor landscape in the market for EV charge point networking platforms. The report is intended for investors and players in energy retail and infrastructure development. The major objective of this Guidehouse Insights Leaderboard is to provide a timely overview of the companies involved in the EV charge point networking platform market and a robust comparison of their strategy and execution in developing, marketing, and selling solutions. Note that the company rankings capture the vendors’ standing at the time of the report’s development and are not an indication of future success. Guidehouse Insights expects the competitive landscape to change significantly as business models evolve with technological innovations in vehicles and charging equipment. This report is not exhaustive. There are many players in the market; this report focuses on the top 20 companies for EV charger networking platforms. 8.2 Sources and Methodology Guidehouse Insights’ industry analysts use a variety of research sources in preparing Research Reports. The key component of Guidehouse Insights’ analysis is primary research gained from phone and in-person interviews with industry leaders including executives, engineers, and marketing professionals. Analysts are diligent in ensuring that they speak with representatives from every part of the value chain, including but not limited to technology companies, utilities and other service providers, industry associations, government agencies, and the investment community. Additional analysis includes secondary research conducted by Guidehouse Insights’ analysts and its staff of research assistants. Where applicable, all secondary research sources are appropriately cited within this report. These primary and secondary research sources, combined with the analyst’s industry expertise, are synthesized into the qualitative and quantitative analysis presented in Guidehouse Insights’ reports. Great care is taken in making sure that all analysis is well-supported by facts, but where the facts are unknown and assumptions must be made, analysts document their assumptions and are prepared to explain their methodology, both within the body of a report and in direct conversations with clients. ©2021 Guidehouse Inc. Notice: No material in this publication may be reproduced, stored in a retrieval system, or transmitted by any means, in whole or in part, without the express written permission of Guidehouse, Inc .56 Guidehouse Insights Leaderboard: EV Charger Networking Companies Guidehouse Insights is a market research group whose goal is to present an objective, unbiased view of market opportunities within its coverage areas. Guidehouse Insights is not beholden to any special interests and is thus able to offer clear, actionable advice to help clients succeed in the industry, unfettered by technology hype, political agendas, or emotional factors that are inherent in cleantech markets. 8.2.1 Vendor Selection The vendors selected for this report were chosen based on two criteria: their networking platform must be competitive in the public charging market and the vendor must be a leading competitor in either North America, Europe, or China or have established an international presence. The above criteria exclude companies that are focused on the following portions of the EV charging market value chain: eMSPs (e.g., PlugShare, Plugsurfing, and Chargemap), CPOs (e.g., Electrify America, IONITY, Fastned, Allego, and EVgo), smart charging apps (e.g., ev.energy, Jedlix, and Ohme), V2G platforms (e.g., Nuvve, Fermata Energy, and Kaluza), fleet or building integration companies (e.g., AMPLY, The Mobility House, and Schneider Electric), and hardware providers (e.g., ABB, Siemens, and ClipperCreek). 8.2.2 Ratings Scale Companies are rated relative to each other using the following point system. The ratings are a snapshot in time, showing the current state of the company. These scores are likely to be fluid as new competitors enter the market and customer requirements evolve. • Very Strong 91 – 100 • Strong 76 – 90 • Strong Moderate 56 – 75 • Moderate 36 – 55 • Weak Moderate 21 – 35 • Weak 11 – 20 • Very Weak 1 – 10 8.2.2.1 Score Calculations The scores for strategy and execution are weighted averages based on the subcategories. The overall score is calculated based on the root mean square of the strategy and execution scores. ©2021 Guidehouse Inc. Notice: No material in this publication may be reproduced, stored in a retrieval system, or transmitted by any means, in whole or in part, without the express written permission of Guidehouse, Inc .57 Guidehouse Insights Leaderboard: EV Charger Networking Companies 8.2.3 Criteria Definitions 8.2.3.1 Strategy The Strategy criteria include go-to-market strategy, partners, product strategy, and geographic reach. The scores for these criteria are weighted 20%, 30%, 20%, and 30%, respectively. Higher weighting for partners and geographic reach is due to better visibility and consistency of data used to inform the analysis. • Go-to-Market Strategy: Evaluates the company's strategy for reaching EV charging applications such as destination, fast, fleet, workplace and apartment complex, and home charging. Competitors with a complete hardware and platform solution typically score well in destination, workplace, and apartment complex applications but less well in fast charging and fleet markets where vendor interoperability is highly desired. Scores for each application are weighted based on Guidehouse Insights’ 2030 projection of revenue by application. Companies providing both hardware and platform solutions have the strongest scores here. • Partners: Measures the company's established partnerships, defined as strategic investors, pilot project participants, resellers, market gatekeepers (e.g., utilities, automakers, and leasing companies), and other companies in the charging market value chain. Scores are applied to each application and weighted based on Guidehouse Insights’ 2030 revenue projection. Companies that have attained backing from major energy companies typically have the strongest scores. • Product Strategy: Evaluates the company’s product as applied to the five charging applications. Scores for each application are weighted based on Guidehouse Insights’ 2030 revenue projection. Considerations for each application include conflicts of interest, turnkey offerings, interoperability, and differentiation. Companies with a wide product portfolio and presence in residential smart charging have the strongest scores. • Geographic Reach: An evaluation of companies’ footprints in global regions defined as follows: North America, Europe, China, Organisation for Economic Co-operation and Development Asia Pacific, and Rest of World. Competitors are evaluated on their relative presence in each region, and each region is weighted based on Guidehouse Insights’ 2030 revenue projection. Companies with a footprint in more than one region have the strongest scores. ©2021 Guidehouse Inc. Notice: No material in this publication may be reproduced, stored in a retrieval system, or transmitted by any means, in whole or in part, without the express written permission of Guidehouse, Inc .58 Guidehouse Insights Leaderboard: EV Charger Networking Companies 8.2.3.2 Execution The execution criteria include sales, product portfolio, staying power, and innovation. The scores for these criteria are weighted 40%, 20%, 30%, and 10%, respectively. Higher weighting for sales and staying power is due to better visibility and consistency of data used to inform the analysis. • Sales: Evaluates the company’s performance as measured in charge points managed by the company’s platform. These figures are often reported by the vendors but not always. Where not reported, Guidehouse Insights has estimated the figure based on other indicative data points. The figures are adjusted or discounted based on vendor business models, which may distort sales in regard to the platform specifically. Overall score strength is mixed across all vendor business model types. • Product Portfolio: Addresses the vendors’ suites of product capabilities relative to the needs of the five charging applications. Capabilities included in this analysis are Plug&Charge readiness, e-roaming network size, charging app or charge card members, VGI, and local integration solutions for fleets, buildings, or both. • Staying Power: Evaluates the company’s financial resources based on announced funding rounds, market valuations, and other indicators of company size. Higher scores are given to companies with better financial performance and more capability to survive market downturns or pivot to new innovation areas through acquisition or internal development. • Innovation: Inventories a company’s activities in advanced networking capabilities such as V2G, with advanced charging technologies such as wireless charging, or in new transportation markets such as aviation or marine markets. Companies that have participated in numerous pilot and demonstration activities score strongest here. ©2021 Guidehouse Inc. Notice: No material in this publication may be reproduced, stored in a retrieval system, or transmitted by any means, in whole or in part, without the express written permission of Guidehouse, Inc .59 Guidehouse Insights Leaderboard: EV Charger Networking Companies Published 4Q 2021 ©2021 Guidehouse Inc. 2941 Fairview Park Drive, Suite 501 Falls Church, VA 22042 USA www.guidehouseinsights.com Guidehouse Inc. (Guidehouse) has provided the information in this publication for informational purposes only. The information has been obtained from sources believed to be reliable; however, Guidehouse does not make any express or implied warranty or representation concerning such information. Any market forecasts or predictions contained in the publication reflect Guidehouse’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in the publication. Guidehouse and its subsidiaries and affiliates hereby disclaim liability for any loss or damage caused by errors or omissions in this publication. Any reference to a specific commercial product, process, or service by trade name, trademark, manufacturer, or otherwise, does not constitute or imply an endorsement, recommendation, or favoring by Guidehouse. This publication is intended for the sole and exclusive use of the original purchaser. No part of this publication may be reproduced, stored in a retrieval system, distributed or transmitted in any form or by any means, electronic or otherwise, including use in any public or private offering, without the prior written permission of Guidehouse Inc., Falls Church, Virginia, USA. Government data and other data obtained from public sources found in this report are not protected by copyright or intellectual property claims. Note: Editing of this report was closed on December 13, 2021.