TIME dotCom, which is primarily known as an internet service provider, appears to have entered the charge point operator business after acquiring Charge N Go. A quick check on social media revealed Charge N Go pages have since been renamed to Time Charge N Go, although the mobile app is still sporting the previous red and black logo.
Charge N Go was established in 2018 and currently operates over 90 chargers in Malaysia, the Philippines and Australia. The company partners with condominiums, office buildings, malls, carparks, hotels, restaurants and retailers to provide electric vehicle (EV) charging solutions. Users are able to pay and charge using RFID cards, QR codes or the mobile app (available for iOS and Android).
Digging into TIME dotCom’s quarterly results, the Q4 2023 report indicates the company completed a share sale and purchase agreement dated December 14, 2023 to acquire 44,643 ordinary shares in Charge N Go from RWC1 at a cost of RM812,502. As a result, Charge N Go became a 51% owned subsidiary of TIME dotCom.
The post TIME dotCom enters EV charge point operator biz after Charge N Go becomes its 51% owned subsidiary appeared first on Paul Tan's Automotive News.
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