Electric Vehicle Infrastructure Company Valuation, Funding & Investors

Electric Vehicle Infrastructure Company is valued at $1.1B as of October 2023.

Last Electric Vehicle Infrastructure Company valuation

$1.1B

Secondary · Oct 2023

Key investors in Electric Vehicle Infrastructure Company

Electric Vehicle Infrastructure Company Overview

About Electric Vehicle Infrastructure Company

Electric Vehicle Infrastructure is a supplier of AC and DC fast-charging stations for electric vehicles in Saudi Arabia. Headquartered in Riyadh, the company deploys charging networks at highways, malls, and residential areas supporting CHAdeMO, CCS, and Tesla protocols. Launched in 2021, it operates over 200 stations nationwide and collaborates with Aramco and Public Investment Fund initiatives to expand EV adoption in the Kingdom.


Founded

2023

HQ

Saudi ArabiaJeddah

Website

eviq.sa

Status

Privately held

Customer focus

B2B & B2G

Revenue model

Product sales

Valuation

$1.1B (Oct 2023)

Electric Vehicle Infrastructure Company Valuation

Electric Vehicle Infrastructure Company is currently valued at $1.1B, based on its secondary sale in October 2023.

The $68M round was led by Saudi Energy.

Electric Vehicle Infrastructure Company valuation by funding round

Electric Vehicle Infrastructure Company valuation by funding round
DateStageValuation
Oct 2023Secondary$1.1B

Electric Vehicle Infrastructure Company Funding History

Electric Vehicle Infrastructure Company has 1 recorded secondary share sale and no primary funding rounds.

Electric Vehicle Infrastructure Company funding rounds

Electric Vehicle Infrastructure Company funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Oct 2023SecondarySaudi Energy (lead)$68M$1.1BElectric Vehicle Infrastructure Company (EVIQ) is a closed joint-stock entity established to facilitate Saudi Arabia's transition to electric vehicles by building a comprehensive national network of fast-charging stations. In October 2023, the Saudi Electricity Company invested SAR 254 million (approximately $68 million USD) to acquire a 25% stake in EVIQ through a joint venture with the Public Investment Fund, implying a total company valuation of approximately SAR 1.016 billion. This investment was funded through SEC's own resources and was announced as part of the company's broader diversification strategy into new business ventures including EV infrastructure, fiber optics, and renewable energy integration. The transaction reflected SEC's strategic commitment to supporting Saudi Vision 2030 objectives and positioning the Kingdom as a regional leader in electric mobility, with the infrastructure network designed to support the anticipated growth of EV adoption and manufacturing capacity in the country.

Who has invested in Electric Vehicle Infrastructure Company?

1 investor has backed Electric Vehicle Infrastructure Company across its funding rounds, including Saudi Energy.

Lead investors include Saudi Energy.


Electric Vehicle Infrastructure Company Investors

Investors in Electric Vehicle Infrastructure Company by funding rounds participated
InvestorHQRoundsRoleFirst check

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Electric Vehicle Infrastructure Company Competitors

Electric Vehicle Infrastructure Company competitors include listed companies like Electreon Wireless and T1 Energy, and private ones like Ample, Electrify America, Zunder and FINN.

Public and private companies comparable to Electric Vehicle Infrastructure Company
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
AmpleUnited StatesSan Francisco, CAPrivate--$1B-
Electrify AmericaUnited StatesReston, VAPrivate--$2.5B-
ZunderSpainPalenciaPrivate--$396M-
Electreon WirelessIsraelIsraelPublicly listed$5M($33M)$233M-
FINNGermanyMunichPrivate$320M-$1.2B3.6x
T1 EnergyUnited StatesUnited StatesPublicly listed$755M($210M)$1.3B2.2x

Electric Vehicle Infrastructure Company Public Comps

Electric Vehicle Infrastructure Company is still privately-owned, but its public comps include Changgao Electric Group, Indian Energy Exchange, Excelerate Energy, Uniconn, Sinopec Kantons Holdings, Quality Power Electrical, JANAF, Kenya Pipeline Company, T1 Energy and ARKO Petroleum.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Changgao Electric Group$248M$69M3.5x3.0x12.6x7.7x
Indian Energy Exchange$64M$63M14.1x13.3x14.3x15.7x
Excelerate Energy$1.2B$416M3.1x2.6x9.0x7.8x
Uniconn$768M$73M1.3x1.1x13.9x-
Sinopec Kantons Holdings$84M-10.8x---
Quality Power Electrical$98M$21M12.3x10.5x57.0x53.0x
JANAF$137M$74M6.3x-11.6x-
Kenya Pipeline Company$317M-4.1x---

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Common questions about Electric Vehicle Infrastructure Company

When was Electric Vehicle Infrastructure Company founded?Electric Vehicle Infrastructure Company was founded in 2023.
Where is Electric Vehicle Infrastructure Company headquartered?Electric Vehicle Infrastructure Company is headquartered in Jeddah, Saudi Arabia.
Is Electric Vehicle Infrastructure Company publicly listed?No, Electric Vehicle Infrastructure Company is a private, VC-backed company.
What is Electric Vehicle Infrastructure Company's valuation?Electric Vehicle Infrastructure Company was last valued at $1.1B in its secondary sale in October 2023.
Who are Electric Vehicle Infrastructure Company's investors?Electric Vehicle Infrastructure Company's investors include Saudi Energy.
Which companies are comparable to Electric Vehicle Infrastructure Company?Companies comparable to Electric Vehicle Infrastructure Company include Ample, Electrify America, Zunder, Electreon Wireless, FINN and T1 Energy.

See companies similar to Electric Vehicle Infrastructure Company

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