Evergo acquires Mexican company Loop Jamaica

The content originally appeared on: Jamaica News Loop News

Evergo has acquired majority ownership of Mexico-based E-DRIVE, a company that provides infrastructure solutions for electric mobility, to expand its footprint to that country.

Evergo’s US$200 million investment in E-DRIVE will be spread over the next five years, the company said in its media release.

“Over the next five years, with an investment of US$200 million, the Evergo/E-Drive partnership will offer a robust network comprising more than 15,000 new public and residential charging stations across Mexico,” the company said.

Both companies will also combine their experience to expand existing residential EV charging with the home-charging technology, ‘My Evergo.

The partnership will also see the addition of charging service for corporate electric fleets under the ‘Evergo Fleet’ initiative.

Evergo Mexico offers level two alternating current stations of up to 20kW and level 3 direct current chargers of up to 600kW of power. These units can charge an EV in less than half an hour.

The company will also launchEvergo App and allow “all charging stations to connect with the network used in an increasingly growing number of countries.”

Evergo is part of the InterEnergy Group and already operates in Dominican Republic, Jamaica, and Panama, with almost five hundred chargers in total.

The company is also planning its expansion to Aruba, Puerto Rico, Paraguay, Uruguay, and Spain.

Speaking at the launch event of this partnership, held in Mexico City, CEO and Chairman of InterEnergy Group, Rolando Gonz?lez-Bunster, said Evergo’s expansion “…will result in the elimination of more than one million tons of CO2 emissions this year.”

He said the expansion in the Mexican market “…interacts with our vision of facilitating this transition throughout the region while promoting a positive impact on the environment.”

Meanwhile, co-founder and CCO at E-DRIVE, Daniel L?pez, said the partnership will allow E-DRIVE to deploy the largest and most powerful network of charging stations in the country, “…a move that will encourage confidence in the use of electric vehicles throughout the Mexican Republic, supported by ‘cutting-edge’ technology.”

In the seven years since its inception, E-DRIVE grew its market share by more than 85 per cent, positioning itself as Mexico’s leading company for electric vehicle charging solutions, the release said.