Electric vehicle charger supplier Pod Point expects to make multi-million-pound losses in 2022 and 2023, it has confirmed.
In a profit warning statement issued today, it attributed the problem to the supply chain issues restricting the delivery of new plug-in vehicles (PIVs), thereby limiting demand for home charger installations.
“The growth of PIVs in the first half of 2022 of 26% has since slowed to 7% in the four months to 31 October 2022,” Pod Point noted, citing data from the Society of Motor Manufacturers and Traders (SMMT).
As such, the firm expects to generate around £70 million in revenue in 2022, with a loss (before interest, taxes, depreciation and amortisation) of £7m.
