In the fourth quarter of 2023 Dutch-based EV charging station developer Fastned sold 32 gigawatts of electricity. The company recorded a gross profit of 14.2 million euros and the charging revenue grew by 44 percent to 19.2 million euros.

‘2023 was a very good year”,Fastned CEO Michiel Langezaal stated and he said he is very optimistic about the development of the EV charging market this year. Although sales of electric vehicles are slowing down in some markets, he said he is not worried that there will be a dip in the sales of electric cars overall.

The fact that cost-effective Chinese EV models prepare to make their entry into the European market is an important reason for his optimism. ‘In addition, many new electric models will appear on the market during 2024.” Contrary to the apprehensive stance of the European Union (EU) towards this development, Fastned sees it as a golden opportunity to expand its charging infrastructure, thereby selling more electricity.

Last year Fastned added charging stations in Denmark and some other countries. This year Fastned willl also build its first station in Spain. The first station will be in Madrid. Fastned has not yet reported a location for the other stations. Spain is the ninth country where Fastned will be active. The CEO called Spain a ‘promising market’ where many electric cars will eventually cover long distances.

Fastned has set a target to establish 1,000 EV charging stations across Europe by 2030.