Fastned’s revenue grew strongly, to €37.8 million (+45% vs. H1 2023), driven by the continued strong growth of electric vehicle fleets in Europe (+38% in Fastned’s markets). This leads to increasing and recurring fast charging demand, which Fastned captures with its high-traffic locations and award-winning charging concept.

Fastned has accelerated the acquisition of high-traffic locations, securing 79 locations in the first half of 2024, our fastest pace ever. With 509 locations signed, we reached the halfway mark in our planned number of secured locations and are fully on track to reach our goal of 1,000 stations by 2030.

Fastned will expand its Management Board with a new Chief Operating Officer, Françoise Poggi. Previously responsible for Tesla’s European supply chain and with similar roles at Sonos and Cisco Systems, Françoise will be of tremendous value to Fastned, helping us further scale the operating capabilities across geographies.

Already a top 3 fast-charging company in Western Europe, Fastned is in prime position to charge the growing EV fleet on European roads.

Profitability rose, with underlying company EBITDA growing by 12%, to €3.2 million. Net profit in H1 2024 was still negative, at -€11.4 million, a consequence of the ongoing large expansion effort.

Fastned issued a record amount of €61 million in bonds in H1 2024 (including €15.7 million extensions of earlier tranches), funding its expansion effort and leading to an increased cash position of €145.8 million (vs. €132.6 million in H1 2023).

With operating cash flow at -€1.0 million (vs. -€2.5 million in H1 2023), Fastned is on the verge of starting to self-fund

When looking at the facts, the electric transition is well on its way: the increasing number of electric vehicles across Europe shows drivers are embracing electric cars as they near price parity with fossil cars. The current battery development pace – still a relatively young technology – puts us on an unstoppable and accelerating path to a complete transition to electric mobility. Reports show that the price of battery cells from China was cut in half over the past year. As a result, a wave of more affordable, new models with more range is on our doorstep.

Fastned continues to grow its network, ensuring all these new electric drivers can charge wherever and whenever needed. With over 500 secured locations and 318 operational stations, we are more on track than ever to operate a network of 1,000 stations by 2030.

Michiel Langezaal, Fastned co-founder & CEO

Published jointly by Transport Canada and the government-industry ZEV Council panel, the dashboard offers at-a-glance information on the country’s EV transition

The federal government’s new ZEV Council Dashboard tracks the progress of EV adoption in Canada along with insights about government-funded EV charger deployment. Photo: Transport Canada

Published jointly by Transport Canada and the government-industry ZEV Council panel, the dashboard offers at-a-glance information on the country’s EV transition

The federal government has released a new EV market share and charging station tracker called the ZEV Council Dashboard.

The online tool is a major step in transparency. It brings together data from several sources for light-, medium- and heavy-duty EV adoption and charging station availability into one database.

“Developed in collaboration with the ZEV Council, this dashboard provides quarterly updates on new light-duty and medium- and heavy-duty zero-emission vehicle market share, data on incentive program uptake, and information on the deployment of charging and hydrogen refuelling stations, including federal investments in this space,” reads the online tool’s website.

The ZEV Council was formed in 2023 to facilitate discussions, strategies and solutions “to speed-up the switch to zero-emission vehicles.”

For just Q1 2024, Quebec and British Columbia were, by a wide margin, the leaders in light-duty EV registrations in Canada at 28.3 per cent and 22.7 per cent, respectively.

The disclosure reveals that market penetration of light-duty EVs is also high in Yukon (11.4 per cent). The territory was the third highest-adopting jurisdiction in Canada in Q1 2024. Prince Edward Island (8.2 per cent) and Ontario (7.9 per cent) round out the top five spots.

On the medium- and heavy-duty vehicle (MHDV) side, the Dashboard shows Yukon leading in market share in Q1 2024 at 4.2 per cent. Quebec was next at 3.5 per cent.

In total, Canada had 418,800 new battery-electric passenger vehicle registrations. As of January 2024 there were 4,590 new electric MHDVs registrations.

Finally, iZEV rebate claims totalled more than 160,000 between 2023 and 2024 year-to-date.

Charging stations to EVs ratio

The Dashboard also presents the ratio between public charging stations and EVs across Canada.

The national average (including battery-electric and plug-in hybrid electric vehicles) is 24 EVs per port.

Quebec has the most public EV chargers with 4,114 stations (1,577 DC fast charger ports and 8,126 Level 2 ports). Northwest Territories has the fewest with just three EV charging stations (two DC fast charger ports and two L2s).

In total, the government has funded 46,244 charging ports across Canada. The vast majority are in planning stages.

Alberta deep dive

In addition to a greater breadth of data the ZEV Council Dashboard, recent information from Alberta shows adoption rates are rising in one of Canada’s more EV-reluctant provinces.

Alberta saw a 59 per cent rise in battery electric vehicle registrations between March 2023 and March 2024.

The data, disclosed on July 29, 2024, shows Alberta had 14,851 EVs registered in the province as of March 31, 2024 — up from the 9,338 EVs registered as of March 31, 2023.

Alberta’s EV data is not broken out in Statistics Canada’s quarterly reports tracking motor vehicle registrations across the country. However the numbers are included in StatsCan’s national tally and, now, on the Dashboard.