AUSTRALIA. ChargePoint withdraws from Australia

The move confirms the company’s previously begun departure from the market. ChargePoint practically stopped maintaining its Australian network three years ago.

The official announcement now sees the CPO shutting down all 46 charging stations in New South Wales, Victoria, Queensland, and South Australia.

Until the end of January, drivers can access the chargers via RFID card while the ChargePoint app has already been deactivated.

The US company entered Australia in 2010 and slowly expanded but began to wind down its local operations in mid-2020, with stations only operating via remote support from the US. The Driven at the time reported ChargePoint would pull out of Australia in May 2023 after its local and US divisions split, but the exit has taken a while.

Also, in its home market, the business is facing headwinds. ChargePoint laid off around 12 per cent of its global workforce last week, saying this was to “improve financial performance”.

The company has been in the news for struggling with liquidity, which it continues to deny or battle. ChargePoint secured over $230 million in capital last autumn and said this month it maintained “a strong financial position with approximately $397 million in cash, cash equivalents and restricted cash (…) and an additional $150 million through a revolving credit facility, which remains undrawn.”