Dutch pension asset manager APG has invested €250m to acquire a minority interest in French electric vehicle charging infrastructure firm Driveco.

Existing Driveco shareholders Mirova and Corsica Sole retain their majority stake in the company.

The investment, which has been made on behalf of the Dutch civil service scheme ABP and APG’s company pension fund, is expected to help Driveco grow its charging points in France and Belgium and expand to Germany, Spain, Italy, Switzerland and the Netherlands. 

Driveco, founded in 2010, currently operates 8,000 charging points and aims to operate over 60,000 charging points by 2030.

Last year, APG invested together with Shell in Dutch renewable energy firm Enie.nl, which also plans to invest in electric charging infrastructure.

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