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EV Charger Maker Kempower’s CEO Sees Sales Recovery in Mid-2025
- Finnish EV charger maker’s stock slumped over 80% since 2023
- CEO sees company’s US revenue ‘almost’ matching Europe by 2030
A Kempower EV charger.
Photographer: Allison Joyce/AFP/Getty ImagesThis article is for subscribers only.
Kempower Oyj’s chief executive officer is pleading for six more months of patience from investors who have witnessed a plunge of more than 80% in the Finnish charger maker’s market value over the past year to just over €500 million ($530 million).
Its expansion was stunted after rapid growth in 2022 and 2023 as companies that had bought large numbers of electric-vehicle chargers struggled to install them, pulling the brakes on new orders, CEO Tomi Ristimaki said in an interview.