The cooperation agreement of the two companies, both listed in the Premium category of the Budapest Stock Exchange, will aim at promoting the use of electric vehicles and facilitating the spread of green mobility services in Hungary.
ALTEO and AutoWallis will also look to improve the charging infrastructure and will further increase the trade of electric vehicles, which will also contribute to the development of the market.
"E-mobility is becoming an integral part of our lives, and vehicle charging is linked to sustainability and energy efficiency investments in an increasing number of ways," says Dénes Novotny, head of ALTEO’s e-mobility.
Novotny argues that vehicles are most conveniently charged at home and at work, but for this to be really cost-effective, sustainable solutions are required for the installation of charging equipment. ALTE-GO, ALTEO’s separate business providing e-mobility services and operating charging stations, offers sustainable solutions for the implementation and operation of e-charging equipment, and provides all services associated with e-mobility.
In addition to the charging infrastructure, the marketing of electric vehicles is also a cornerstone of e-mobility, the press release notes. Sales in this category are soaring: last year saw a 43% increase in the sales of electric vehicles globally, and a 137% increase in Europe as compared to the previous year.
The CEO of AutoWallis Nyrt., Gábor Ormosy, said that AutoWallis Group sold almost 1,000 electric and hybrid vehicles in 2020 in the 14 countries where the group is present, which shows customers are increasingly open towards green technology.
This, however, also necessitates a sufficient charging network in Hungary, both along the road system and in people’s homes. The agreement with ALTE-GO will allow for the two companies to offer services that customers can benefit from and that, at the same time, will increase the companies’ shareholder value as well. Ormosy added that the whole service network of the group is well prepared to repair and service electric cars, and e-chargers are available in every showroom.
While the deal's main focus is on e-mobility, the also involves ALTEO providing electricity from its own, mostly renewable energy production to the dealerships and the service network of AutoWallis Group. The strategic partnership also covers the sales of innovative energy solutions in charging, for example, dynamic energy management and energy storage.
Producing journalism that is worthy of the name is a costly business. For over 30 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
