Uddrag fra ABG Sundal Colliers analyse af GreenMobility efter investor dag:
- Germany next on the roll-out agenda
- Increase usage of data reduces seasonality
- Company reports Q4 on 25/3 with updated guidance
Targeting 35 cities by 2025
With an ambition to operate 10,000 EVs by 2025, GreenMobility expects to enter 5-6 cities every year to reach 35 cities. The company targets EU cities with an environmental focus and more than 250k inhabitants, where 162 cities fit these criteria. The firm is set to operate from three customer support centers (Copenhagen, Belgium and likely Vienna). GreenMobility says that it expects to raise capital on an ongoing basis so to grow faster than organic profits from existing cities would permit (these cost EUR 2-3m to enter). As a result, the strategy is a step-by-step plan, with the firm currently operating in 7 cities in 4 countries and planning the roll-out of 3 new cities (Oslo, Brussels and Vienna) in 2021. In January, the company announced that it had opened a subsidiary in Germany and expects a launch of the first city there in Q2’21. At its seminar, the firm said it preferred a major city such as Berlin or Hamburg, followed by the establishment of satellite hubs in nearby cities. In Germany, it expects to receive grants of EUR 9k/car, which could reduce the time to break-even from the current 2-3-year level. The company currently uses Renault EVs but is open to working with new partners; 35 new EV models across its segments are set to launch in 2021-22e.
