Electric Vehicle (EV) charging service provider CarCharging Group has signed an agreement to acquire 350Green, an owner and operator of EV charging stations across the US.
The planned acquisition would make CarCharging as the largest public EV service provider, with over 1,000 EV charging service facilities in the country.
According to CarCharging, the acquisition is expected to increase the firm's contracts with major municipalities, comprising the City of Chicago, and further expand its presence into the West Coast market which is experiencing fast adoption of EVs.
CarCharging CEO Michael Farkas said the company's acquisition of 350Green extends its footprint in providing EV charging services and infrastructure to support increased consumer demand and growing sales of EVs.
"We look forward to providing our combined partners and clients, as well as EV drivers, with the highest level of service for their EV charging needs."
The successful acquisition would provide CarCharging with EV service contracts from almost every major mall operator in the country.
350Green CEO Mariana Gerzanych said adding 600 EV charging stations in 20 markets to CarCharging network will create the most robust infrastructure network in the nation.
"This partnership will be highly advantageous to the EV charging industry and will contribute significantly to the overall growth of the market," Gerzanych said.