DEFA takes a leading position in the Nordic EV-charging market

DEFA Group confirms the successful launch of the charging station DEFA Power, released earlier this year. This groundbreaking product has not only won the hearts of customers but has also generated impressive market growth and financial results for the company. In record time, the company has established itself with a Nordic market share of approximately 25 percent, becoming a significant force in a new generation of electric vehicle charging solutions.

More than a contender

DEFA Power has contributed to new records for DEFA's profitability. As of October 31, 2023, total revenue has reached 72 million EUR, with a strong profit of 9 million EUR (EBITDA), equivalent to 12.5 percent. The company expects to end the year with revenue approaching 94 million EUR. More than 60 percent of the total revenue comes from charging solutions, proving that DEFA Power is not just a new EV charging station, but also a central part of DEFA's new e-mobility product portfolio. With today's pace, DEFA will soon not only lead in technology but also take the leadership role in delivering smart charging solutions for electric cars at home and for facilities.

A growth story that began in thousands of homes and will transform charging in Europe

Since the Nordic launch of DEFA Power in May 2023, DEFA has quickly captured about 25 percent of the home charging market. The charging station has been launched as one single product but can easily be installed and configured as a facility charger in all markets. Consumers in the Nordic region have embraced the product, and the launch in Germany, the Netherlands, Austria, and Switzerland will take place before the year’s end.

DEFA plans further expansion into other EU countries in 2024, including the UK, and North America. The company is also working on launch plans for selected markets in Asia.

Making waves among professional players

DEFA Power is the first in a new generation of certified charging stations to meet the latest requirements for quality and compatibility when electric cars are integrated into smart energy systems. The product stands out by eliminating hassle associated with handling charging cables, delivering smart power management as an integrated service, guaranteeing the highest possible charging speed through unique thermal control, and raising the charging experience to a new level of user communication.

With OCPP 2.0.1 protocol as standard and a focus on full dynamic load balancing, DEFA Power shows that the company's commitment to high quality is well-received by those delivering sustainable and smart charging solutions. The charger is among the very first of its kind to support bidirectional charging (Vehicle-to-Grid, V2G), allowing customers to participate in the energy market of the future, with solutions installed today.

Strong brand and credibility

DEFA holds significant advantages in today's market as larger customers seek established brands and quality assurance. A strong brand is crucial in this context, and DEFA benefits from a deeply rooted trust and credibility within the automotive industry. With solid technical expertise and a comprehensive brand ecosystem, DEFA has established itself as a reliable player that effectively meets market demands.

Surging ahead in a growing market

DEFA looks very positively at future growth opportunities. This due to customer agreements from existing and new partners. The company has already signed significant deals with established players in the automotive industry, real estate sector, and several of the most innovative energy providers. The increasing emergence of providers of electric vehicle charging as a service also requires suppliers to have open solutions, a strong focus on user-friendliness, and products that are sustainable over time.

"DEFA Power sets the standard for the future, and we now know that our platform and products will play a crucial role in the e-mobility market. We invite everyone interested to join us on this exciting journey towards a sustainable future," says Bård Klungseth, CEO of DEFA.