2024 has been an eventful year. We will highlight the good, the bad and perhaps some ugliness too. The growth we’ve seen in EV charging is—obviously—good for the industry and our business; the volatile market conditions have been quite bad; and the narrative around EVs in general have at times been pretty ugly. Let’s reflect on our performance in the past year and look ahead on what’s yet to come!
A growing yet volatile market
We know. It takes time for new industries to develop into mature markets. Same goes for our EV charging industry.
Past year, the EV market has seen continued growth across many segments. Global EV sales surged 25%, though Europe (EU, EFTA and the UK) showed a more challenging trend. The European EV market grew 1% year-on-year, though overall growth declined by 3%.
Talking about charge points, we see a different story in Europe. Past year, Europe surpassed the 900,000 charging points mark halfway through the year. Similarly, Europe reported 55.4% growth on average between 2021 and 2024. Good news is that the number of DC chargers is growing more rapidly than the number of AC chargers. However, we’re still well off the number of charge points needed for the eMobility transition.
Despite the drop in EV sales, the market is expected to recover in the coming year with stricter EU rules impacting the need for more EVs. Also, more EV models have entered the market, giving drivers more options to choose. In addition, EV prices have dropped 15% in Europe, making them more affordable.
EV market challenges
Growth has come at a cost, though. If we take a look at the many insolvencies of both rising stars and household names, we have to consider the many jobs that have been lost and dreams that have been shattered. Restructurings, job reductions, market retreats: many peers have had a challenging year.
Why? Important European car markets like Germany have struggled dealing with revoked EV subsidies. Governmental support remains fragile across Europe as other countries, like France and the Netherlands, have also revoked their EV stimuli.
Spain has been a positive exception, reporting strong EV sales growth due to its EV subsidy. A positive outcome could be provided by the EU as it is said to consider ‘bloc-wide purchase incentives for electric vehicles’ to combat surging competition from China.
'Looking at our own performance, I believe we can be extremely proud of what we’ve accomplished.' --Suthalan Gnanes, Managaing Director at GreenFlux
Besides that, sustainability has become a more criticised term due to the rise of conservative political parties. This is somewhat fuelled by negative media sentiment in which BEVs are falsely claimed to have a worse impact on the environment than ICEs.
However, we’ve also witnessed positive trends in our ecosystem. We’ve seen promising financing rounds at some of our peers. And let’s not forget that our parent company DKV Mobility took over SMART/LAB end of November. So, we won’t let some negativities affect us!
On the contrary, GreenFlux has seen steady growth in 2024 across many different segments. We have highlighted some of them in the next chapter to show you which have been most impactful and we’re most proud of.
‘If you look at 2024, it was a challenging year for the EV industry. Many of our peers are not around anymore,’ GreenFlux Managing Director Suthalan Gnanes said when reflecting on past year. ‘Looking at our own performance, I believe we can be extremely proud of what we’ve accomplished. We’ve showed persistence and resilience as we dilligently continued our projected growth strategy. I’m very pleased with how the entire team has performed and how it has grown in size and responsibilities.’
Our milestones in 2024
GreenFlux Organisation
- Signed SMART/LAB – We welcomed SMART/LAB as the newest addition to DKV Mobility Group’s eMobility businesses as DKV acquired a majority stake. Welcome to the club, SMART/LAB!
- Onboarded 100th employee – Our team of EV charging specialists continued to grow as we welcomed employee number 100. This growth didn’t stop there and won’t stop in 2025. So, join us!
- Grew employee base to eight countries – Our commercial team sits in the middle of all the EV charging action in Sweden, Poland, France, Italy, Spain, Germany, the UK, and the Netherlands. 😊
- Organized successful community day – Each edition of our Community Day strengthens our ties to our local community and unleashes energy from our employees.
- Attended the ICNC24 event - Past year, the ICNC event was an epic edition at the Tempelhof location in Berlin. We were energised by the non-stop conversations on how together we will push the EV charging industry further faster. Can’t wait until the 2025 edition!
- Launched refreshed website and brand – We refreshed our website and brand to have a clearer and better UX, a fresher design, better visualization of complex concepts and more use cases to better explain what we can do for you.
GreenFlux Platform
- Passed the 1TWh mark – Our clients’ drivers have charged more than 1TWh through our platform. Quite an achievement!
- Integrated payment terminals - We significantly expanded our payment terminal integrations, giving our customers more options to streamline operations and shape their charging experience according to their specific needs.
- Launched direct payment webpage – Complementing our expanded payment terminal solutions, we have launched the direct pay web page. As a CPO, you can generate a QR code enabling your drivers to charge conveniently using their debit or credit cards. Find out more!
- Completed Auto-Invoicing rollout – Although outwardly it may not seem to be the sexiest subject, we have taken significant steps in improving our operational excellence. Our monthly invoicing cycle now runs fully automatically, resulting in our customers receiving accurate and timely invoices, while our team is freed up to tackle new challenges. With millions of charging sessions running through our platform each month, this accomplishment has been no small task. We are proud of our team who developed the highly robust process, systems, and discipline into our operations. We are ready for the next stage of hypergrowth!
- Added Dashboard to EVPortal - Thanks to the valuable input from you and other customers, we launched our Dashboard 2.0. The new dashboard offers a new card structure that is both elegant and intuitive to use. It allows you to see at a glance how your network is performing and quickly take any necessary actions.
- Launched AutoCharge feature - After the complete overhaul of Charge Assist more than a year ago, we had to temporarily drop AutoCharge. However, this convenient feature is back! AutoCharge ensures that your charging session automatically starts when the charging cable is plugged in. Makes life simple, right?
- Implemented OCPI changes - We are staying ahead of industry standards by implementing new connections with the OCPI 2.2.1 protocol. This advancement allows you to roam with more partners—including those who only support OCPI 2.2.1 and above—while enabling several new features and options.
GreenFlux Compliance and Security
- Renewed our ISO 27001:2022 certification, valid through February 2027 – After a vigorous recertification audit, we emerged with a clean bill of health with no deviations or non-conformities noted. This is a testament to our dedication to information security excellence.
- Implemented NIS2 directive requirements – As of 1 October 2024, EU’s NIS2 Directive became active, though it has not been fully transposed into national Dutch law yet. To be ready in time, we’ve already implemented the NIS2 Directive’s requirements as we’re part of critical digital infrastructure. This means, among other things, that we’ve conducted a gap analysis between NIS2 and our ISO 27001 framework; mapped NIS2 requirements to our ISMS; updated internal processes, policies, and incident management protocols; and conducted internal audits.
Our 2024 stats
- Every 1.2 seconds, a charge session takes place through the GreenFlux platform.
- We’ve seen 14 promotions across all departments.
- By the end of December 2024, our team totalled 108 employees; a 20% growth compared to the end of 2023.
- We now have an astonishing 36 nationalities on board.
- At the end of December 2024, we had 893,000 charging points in our roaming network. This is a 37% growth compared to last year.
- A total of 1.72 billion kWh (or 1.7 TWh) has been provided via charging through the GreenFlux back end, which represents a growth of 75%.
- We’ve powered over 10.3 billion electric km through our EV charging management system. That amounts to a 75% annual growth.
- Over 85 million charge sessions/CDRs have been registered on the GreenFlux EV charging software, a 41% growth compared to one year ago.
Our 2025 outlook
The EV market is set for an exciting year, with more pressure on making the financials work and securing the importance of the EV charging infrastructure. That also means weathering continued volatility in the EV industry. But hey, we like to focus on our performance. What does that mean for our outlook in 2025?
Strong and steady growth
We believe that growth should happen in an orderly fashion and with stability. That means we have the right structures in place to maintain the high quality effectiveness and efficiency that our customers are accustomed to. Therefore, we only scale the elements in our company that need it.
Another part of that mission is that we care for the well-being of our employees. By providing proper mental support, training opportunities and personal growth, we hope we can offer them the stability and trust to become whoever they wish to be. And with our continued growth in FTEs, we will expand the GreenFlux office in Amsterdam, only 1.5 years since our latest expansion.
‘In 2025, we will continue the path that we’ve taken this year. That means more resilience, more growth, and happier employees. And although the EV industry won’t get into calmer waters yet, we will continue to go off the beaten track to make a difference for our customers,’ Suthalan Gnanes said. ‘Exciting times are ahead of us, so let’s get cracking!’
Collaboration and integration
With consolidation comes integration and especially collaboration. Firstly, we will collaborate with our newest member of the family, German counterpart SMART/LAB, and look for synergies that will help us in the near future.
Secondly, we continue to collaborate with industry peers. With our EV trade association memberships (and more to come in the coming months!), we actively seek collaboration with our industry peers, both locally and across Europe. This also counts for our participation in the EVC-ISAC to share information on critical cybersecurity topics in the Dutch EV charging ecosystem.
Lastly, we expect to collaborate extensively with new roaming partners throughout the EU, which will further integrate charging networks into our already vast European EV roaming network. We foresee breaking the 1 million roaming charge points mark soon!
Full product focus on usability and scale
Last year, our UX team already made extensive progress on the redesign of our front-end EVPortal, with a Design System 2.0 of which we saw the first example in the shape of the Dashboard 2.0.
In 2025, we will continue making necessary changes throughout the EVPortal, giving us more room for innovations and adaptations. For example, we're scaling up to fully implement the OCPP 2.2.1 protocol, which will bring major advancements in functionality and security. Furthermore, we'll advance our implementation of energy manager features like V2X and Multi-Level Capacity Management and continue improving the payment lifecycle.
All our product work is focused on making our customers more autonomous, improving the charging experience, and removing any barriers to further efficient EV growth. Let’s make 2025 a year we will never forget!
