Fastned Volume Growth Up 500% In Quarter 1 2016 (As Compared To Quarter 1 2015)

The Netherlands-based electric vehicle fast-charging network company Fastned is continuing to grow at a rapid clip, going by the company’s recently released Quarter 1 2016 numbers.

To quickly summarize here: volume growth during the quarter was 500% (as compared to Quarter 1 2015); revenue growth was 370% (as compared to Quarter 1 2015); revenue growth was 21% and volume growth was 37% as compared to Quarter 4 2015; and active customer growth was 31% as compared to Quarter 4 2015.

In addition to this growth, the company also recently completed a rollout of Tesla adapters at its electric vehicle (EV) fast-charging stations throughout the Netherlands. In addition, the company secured a new deal with Nissan that will see LEAFs given 4 years of unlimited charging at the company’s various stations in the region.

Fastned CEO Michiel Langezaal commented:

“Fastned continues to grow rapidly in terms of the number of customers, kWh delivered, and revenues. On top of this we see a major shift in the perception towards electric cars around the world and in the Netherlands. End of March the Dutch Parliament adopted a motion ordering the Government to strive for 100% of new cars sold after 2025 to have zero emissions. The enormous interest in the Tesla Model 3 (already more than 280,000 pre-orders) shows that people can’t wait to drive electric. We are building the charging network that will be required to provide all these cars with the electricity they need.”

It’s great to see that the company is still doing quite well, as the lack of reliable charging infrastructure in much of Europe is arguably the primary barrier to wider EV adoption. Fastned is currently in the planning and financing phase of its efforts to expand its network throughout continental Europe.

Image Credits: Fastned