EFUEL is a distributor in electric car charging. In addition, the company strives to strengthen the gross margin through further development of EFUEL’s range of own brands in installation products and accessories, such as charging cables, cable holders, etc. The company’s good knowledge of the market and of building brands in electric car charging creates good conditions for long-term growth in an expanding home market. The company offers charging boxes from Wallbox, Defa and Easee, among others, with competitive prices for both public charging and private markets. The company also offers its customers a range of accessories and cabling under the brand name “EFUEL”..
The company has faced major challenges during the financial year. The single most decisive event was the sales ban imposed by the National Electrical Safety Board on the products Easee Home & Easee Charge on March 14, 2023. These two products and associated accessories made up a majority of the company’s sales at the time, as well as historical sales. In addition, the market for charging boxes has had a sharp decline during the year, driven by the economy.
In mid-2023, Easee launched a first new charger with EU approval that can be sold without restrictions. It allowed for the launch and initiation of a replacement program of sales-stopped chargers that were not installed by our customers. The National Electrical Safety Board in Sweden has set requirements for measures on installed boxes, but has not yet specified its requirements. During the year, the company broadened its range with products from, among others, the wallbox manufacturers DEFA and Charge Amps
BUSINESS CONCEPT AND VISION
EFUEL’s business concept is to develop the right solution for electric car charging for companies, housing associations and public parking lots.
The company’s offering includes:
• Several of the market’s best charging boxes
• Nationwide installation
• World-class support
• Smooth in-app management
CUSTOMERS AND MARKET
Despite this year’s decline, the electric car market is expected to continue to grow in the coming years. The Nordic countries are currently counted among the markets with the highest level of preparedness.