Antonio Carraro Restarts, Continues Investment in Oncharge

The historic Veneto-based company and lead investor in On Charge announced that it is the majority shareholder of the innovative company specializing in e-mobility technologies. 160 MW provided for over 6,000 users, 236 active charging points and 1,500+ more in the installation process: On Electric Charge Mobility srl continues to grow, thanks to the support of Antonio Carraro S.p.A., a leader in custom tractor manufacturing.

The figures reflect the remarkable achievements and ambitious prospects of a private company that has succeeded, in just a few years, in competing with the industry’s top players, demonstrating its “agility” and foresightedness in intercepting consumer needs as part of this new challenge in the booming e-mobility market.

Investing up to 15 million euros in equity

Credit goes to the guidance of G&G Holding srl, founder of On Charge, which has succeeded in scaling what was once a modest start-up to compete with today’s top providers of charging services.

With the aim of offering even more stability and prospects for the company and its collaborators, G&G Holding has sold a stake in the company to Antonio Carraro S.p.A., which has thus become majority shareholder. G&G Holding remains the company’s second largest shareholder. The agreement with Antonio Carraro S.p.A. envisages an equity injection of up to 15 million euros.

The funds will be used to complete the upcoming nationwide installations, as well as to expand the company’s operations abroad, with a focus on the European market and a preference for high-

powered charging systems, by the end of 2023.

Thanks to the new funding arrangement, On Charge will have installed over 840 charging points by the end of October 2023 with AC-powered charging infrastructure and an impressive number of ultra-fast current systems. The company has set itself the challenge of meeting and exceeding the industrial plan projecting the installation and operation of more than 8,000 charging points by 2027 An ambitious result requiring an overall investment of more than 100 million euros and an estimated workforce of about 50 people.