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GARO is establishing a sales company in Spain in the GARO E-mobility business area. Today, GARO operates in seven countries in Europe. The latest establishment took place during the autumn of 2023 in Germany. The establishment is a natural step in GARO's growth strategy that prioritizes the development of GARO's European operations.
Spain is the fourth largest country in Europe in terms of the number of passenger cars with about 27 million cars and a rapidly growing market for rechargeable cars. In 2023, electric cars comprised 5.8% of the total number of new car registrations1 in the country, up from 2.1% in 2020. Pure electric cars only comprised 0.6% of the total vehicle fleet in 2023. From 2035, new cars sold in the EU must have zero emissions, which will involve significant growth in the years ahead.
"To meet the rapidly growing EV fleet in Spain and establish energy-efficient and convenient electric car ownership, considerable charging infrastructure investments are required, particularly within destination charging. Political ambitions are in place to transition the fleet to EVs, which will enable the rapid expansion of both public and non-public charging infrastructure in the years ahead, and GARO's range of well-designed electric car chargers suit the market well," says Niklas Rönnäng, Business Area Manager GARO E-mobility.
GARO has previously exported charging stations and wall boxes to Spain and will now conduct sales and marketing activities the Spanish market via its own sales company. The company will be registered in the Valencian Community. Carlos Paso Calleses has been appointed Managing Director and has a solid background in electrical engineering and smart system solutions. Deliveries are expected to commence in the second half of 2024.
For more information, please contact:
Patrik Andersson, CEO +46 (0)76 148 44 44
Niklas Rönnäng, Business Area Manager GARO E-mobility: +46 (0)70 698 09 05
GARO AB (publ) Corp. Reg. No. 556071-7772 is a company that develops, manufactures and markets innovative products and systems for the electrical installations market under its own brand. GARO's customer offering is to provide complete solutions in the product areas of Electrical distribution products, E-mobility, Project business & Temporary Power with a focus on electrical safety, user-friendliness and sustainability. GARO was founded in 1939, has its head office in Gnosjö and is today an international company with operations in seven countries. The company's production units in Sweden are located in Gnosjö and Hillerstorp in Sweden and in Szczecin in Poland. GARO is listed on Nasdaq Stockholm under the ticker name GARO. For more information, see www.garo.se