Fastned Reports Rapid Growth During Quarter 3, 2016

The Netherlands-based electric vehicle charging solutions firm Fastned has continued its rapid growth through the third quarter of 2016, according to an email sent to CleanTechnica. Year-on-year revenue growth for the quarter (as compared to Quarter 3 2015) is 153%.

Year-on-year volume growth was substantial as well, at 216%. And year-on-year active customer growth was 99%.

To provide specifics:

• Fastned’s total active customer numbers rose to 2,526 during Quarter 3, 2016
• Revenue grew to €56,180
• Sales volume grew to 116,919 kilowatt-hours (kWh) of electricity.

The email provides more: “Fastned continued to outpace the growth of the overall market for electric vehicles (approximately 30% YoY, exact figures still to be published by the RvO). This growth was achieved by adding new stations as well as a higher utilisation per station compared to Q3 2015. The introduction of the new Power price plan (fast charging for the same price as charging at home) was well received and many customers have opted for this in Q3 2016. This has had a positive effect on both our volume and revenue. Unfortunately, part of Q3 2016 one of our top stations (De Andel) was temporarily unaccessible because of a fire destroying a nearby gas station.”

That last bit is amusing, though unfortunate for those involved. I’m guessing that electric vehicle (EV) charging stations don’t catch on fire as often as gas stations.

Continuing: “Today approximately 12,000 full electric vehicles are on the road in the Netherlands. We are confident that improved tax incentives, stricter emission regulations, and the introduction of EVs with more range will further improve market conditions in the months ahead. In the coming quarter EVs like the new Renault ZOE and the new Volkswagen e-Golf. Next year, completely new long range EVs like the Opel Ampera-e and the Tesla Model 3 are expected. From January 1st 2017, the tax regime for full electric vehicles improves dramatically relative to cars with combustion engines (including PHEVs).”

That’ll be the real test of the company’s business plan — what happens once there are a lot of compelling long-range EVs available? Things are looking pretty bright, though, going by the company’s performance to date.