ChargePanel AB (publ) continues to expand in Africa
Stockholm, June 22, 2022
ChargePanel AB (publ) and M.S Electronic Vehicles System Limited (hereinafter referred to as Electronic Vehicles System), enter into a partnership for charging electric vehicles in Uganda.
Electronic Vehicles System has today signed an agreement with ChargePanel for the subscription service Enterprise. Electronic Vehicles System will, with their brand First Charge Uganda, act as both CPO1 and EMP2 with the aim of being an active part of electrification in Uganda. As a first actor in the country, the company sees a unique opportunity to take a prominent position.
ChargePanel Enterprise is a subscription service of the company’s SaaS platform that enables control and management of charging infrastructure for electric vehicles and provides charging services towards electric vehicle drivers. Electronic Vehicles System intends to use ChargePanel’s SaaS platform to enable the expansion and management of charging networks for electric vehicles in Uganda and plans to have approximately 100 charging stations by the end of 2023.
According to a report by McKinsey & Company, published 20223, the vehicle fleet is expected to grow from 25 million vehicles today to an estimated 58 million by 2040, in the six countries that make up about 70 percent of sub-Saharan Africa, which includes Uganda. With a growing vehicle fleet, the challenge will be to drive more sustainable mobility, where some of the countries are starting to announce electrification targets for vehicles and various incentives for the introduction of electric cars.
“We welcome the Electronic Vehicles System and see Uganda as a natural step in our expansion in East Africa as we have already established an agreement with a company in Kenya. The whole region shows a great interest in becoming part of the electrification journey that other parts of the world have begun. ChargePanel attracts interest from several countries in the region and we are pleased to be part of the transformation from fossil to non-fossil fuels in Africa.” – Jan Berggren, CEO ChargePanel AB (publ)
“We chose ChargePanel and their SaaS platform as it gives us all the features we need to become a successful actor in Uganda. For us, security, flexibility, and functionality have been absolutely crucial. We are very positive and feel that with ChargePanel we have all the prerequisites to not only be the first actor, but also the largest in Uganda”. – Charles Nyeko Todwong, Managing Director, M.S Electronic Vehicles System Limited
About Electronic Vehicles System
M.S Electronic Vehicles System Limited operates in Uganda. The company plans to act as both CPO and EMP in the construction of Uganda’s charging infrastructure. The goal is to take an active role in the electrification of the country’s vehicle fleet.
ChargePanel AB (Stockholm, Sweden)
ChargePanel AB (publ.) is a GreenTech company that offers B2B solutions within e-Mobility. The company is listed on Nasdaq First North Growth Market and the company’s Certified Adviser is Eminova Fondkommision.
The company has its entire focus on good customer relations and the development of innovative systems, applications, and technologies. ChargePanel provides customers with a white-label SaaS platform for the operation and management of a charging network, regardless of geographic market. The platform gives the electric vehicle driver access to a user-friendly app for charging and is independent of both electricity companies and manufacturers of charging infrastructure. The company’s strategy is both sustainability and customer centric. Smarter electric vehicle charging through ChargePanel’s platform facilitates the transition from fossil-fueled vehicles to electric vehicles for both private individuals and companies. This is in line with the climate goals of most countries and regions, and the incentives for electric vehicles will increase sharply in the future.
ChargePanel AB (publ), headquartered in Stockholm, is now planning an expansion both nationally and internationally. The company already has several international collaborations, for example in the United Kingdom and Norway.
1. CPO (Charge Point Operator)
2. EMP (e-Mobility Service Provider)