Shares in Pod Point sunk as much as 40% in early market trade in London on Monday after the electric vehicle charging operator warned on ‘weakness’ in the EV market.

The EDF-backed business said it expects its 2025 results to be below current market expectations amid the slump in demand for new cars.

The company said it expected to report revenues of £53m, against guidance of £60m, while net cash at year end was £5.3m, below guidance of around £15m.

“Ongoing weakness in the private new car segment of the EV market, continues to affect trading, resulting in lower-than-expected revenues,” Pod Point said in a trading update.

“The recent Government consultation on the zero emission vehicle mandate could further increase near-term uncertainty for the sector,” the firm added.

Pod Point said it expected to draw on the £30m debt facility provided by EDF, the Group’s majority shareholder, during the first quarter of the year.

The company’s shares have more than halved over the past year.

Recent figures from the Society of Motor Manufacturers & Traders (SMMT) showed 382,000 new battery electric vehicles were registered in the UK in 2024. The figure represented a 21% increase compared to the previous year — but the overall market share compared to petrol and hybrids rose only three percentage points to 19.6%.

Founded in 2009, Pod Point has an installed base of 250k communicating charge points on its network in the UK and is an official charge point supplier for major car brands.

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