Fast charging station operator Fastned records net loss

Fastned, the operator of fast charging stations for electric cars, saw its net loss increase to 11.4 million euros in the first half of this year, 11 percent more than in the same period last year. Furthermore, the company announced turnover increased by 45 percent to 37.8 million euros on Thursday.

Fastned attributes the loss to continued high investments to expand. The company benefits from the "continued strong growth" of the electric vehicle fleet in Europe. "With more than 500 acquired locations and 318 operational stations, we are better than ever on track to have a network of a thousand stations by 2030," says Michiel Langezaal, CEO of Fastned, in a statement.

However, Langezaal does not want to say when Fastned will turn the net loss into profit. The CEO does expect a significant growth of electric cars in Europe in the coming years, from which Fastned will benefit. He thinks that a fossil car will be more expensive than an electric model by 2030, which will cause many consumers to switch.

In the past six months, 22 Fastned charging stations were added, eight of which were in the Netherlands. The number of active customers increased by almost 50 percent to over 411,800.