Business

Brazil's Vibra invests BRL 5 million in electromobility startup Easy Volt

Also known as EZVolt, the startup leads the electric vehicle charging market in the country, being the first to operate in the model known as “charge as a service”

Reuters

03.Feb.2022 15:30 BRT

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Vibra, a former subsidiary of Brazil’s Petrobras, reported this Thursday that it had invested BRL 5 million in the electric recharge startup Easy Volt, whose resources can be converted in the future into participation in the company.

The transaction, which marks Vibra’s entry into the electromobility business, also has call option mechanisms if it chooses to convert the shares, explained Vibra.

Also known as EZVolt, the startup leads the electric vehicle charging market in the country, being the first to operate in the model known as “charge as a service,” said Vibra.

The startup operates in nine states, serving passenger vehicles and corporate fleets. Customers can pay for recharges directly via the mobile application in its network of charging stations.

Vibra stressed that “it intends to act in the offer of solutions for charging electric vehicles, integrating digital solutions and supplying electricity from renewable sources such as wind and solar.”