Medium-term development remains positive

ADS-TEC Energy reported significantly lower sales in the first half, reflecting delays in electric vehicle (EV) infrastructure build-out and the change in its business model towards ‘owner and operator’ of assets. Original equipment sales should accelerate as EV adoption picks up, supported by the new contract wins announced this year, along with the positive developments being seen in the Commercial & Industrial division markets. Equally important is the change in business model to ‘owner and operator’ of EV charging equipment and the development of large-scale battery energy storage systems (BESS), which will build significant longer-term income streams rather than one-off capital sales. The first large BESS project with capacity of 1G...