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“We made good progress on our costs but the weaker-than-expected private EV market has negatively impacted revenues,” CEO Melanie Lane said in a statement.‘>
Electric Vehicle charging point provider Pod Point Group warned of lower-than-expected results this year and cut its 2024 revenue forecast on Monday, due to weaker EV demand.
Britain faces a dual challenge of striving to reduce emissions while grappling with slower-than-anticipated adoption of EVs, driven partly by concerns over limited charging infrastructure and high costs.
In December, the country launched a consultation to review rules that force automakers to produce more electric vehicles, following industry warnings that the current plan could lead to factory closures and job losses.
But Pod Point said the recent consultation on the zero emission vehicle mandate could further increase near-term uncertainty for the sector.
For the 12 months ended December 31, 2024, the UK-based company cut its revenues forecast to about 53 million pounds (USD 64.70 million), down from its previous guidance of about 60 million pounds.
“We made good progress on our costs but the weaker-than-expected private EV market has negatively impacted revenues,” CEO Melanie Lane said in a statement.
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Britain faces a dual challenge of striving to reduce emissions while grappling with slower-than-anticipated adoption of EVs, driven partly by concerns over limited charging infrastructure and high costs.
- Updated On Jan 20, 2025 at 04:25 PM IST
“We made good progress on our costs but the weaker-than-expected private EV market has negatively impacted revenues,” CEO Melanie Lane said in a statement.“>
Electric Vehicle charging point provider Pod Point Group warned of lower-than-expected results this year and cut its 2024 revenue forecast on Monday, due to weaker EV demand.
Britain faces a dual challenge of striving to reduce emissions while grappling with slower-than-anticipated adoption of EVs, driven partly by concerns over limited charging infrastructure and high costs.
In December, the country launched a consultation to review rules that force automakers to produce more electric vehicles, following industry warnings that the current plan could lead to factory closures and job losses. But Pod Point said the recent consultation on the zero emission vehicle mandate could further increase near-term uncertainty for the sector. For the 12 months ended December 31, 2024, the UK-based company cut its revenues forecast to about 53 million pounds (USD 64.70 million), down from its previous guidance of about 60 million pounds.
“We made good progress on our costs but the weaker-than-expected private EV market has negatively impacted revenues,” CEO Melanie Lane said in a statement.
- Published On Jan 20, 2025 at 04:24 PM IST
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