Mercedes-Benz has sold its own-branded electric vehicle charging network in Europe to rival charging provider Electra, a move that was disclosed with little fanfare in the carmaker's quarterly financial results. The transaction, which appears to have gone through over the summer, hands Electra control of 800 fast-charging locations across the continent, with the French firm publicising the completed deal only this week.

The network had reportedly been valued at around £80 million, though neither company has confirmed exactly what Mercedes received in exchange. For drivers, little changes day to day: Mercedes owners will continue to enjoy preferential charging rates, now across an expanded Electra network that has absorbed 374 charge points spread over 47 hubs. The agreement is understood to cover only the physical charging infrastructure, with no Mercedes staff transferring to Electra as part of the sale.

The move marks a significant reversal for Mercedes, which launched its charging network in 2023 with bold promises. At the time, the company spoke of building 2,000 sites worldwide and rolling out a web of rapid-charging hubs across Europe by 2027. The flagship site opened in Mannheim, Germany — a symbolic choice, as it's the city where Mercedes founder Karl Benz developed the Patent-Motorwagen, widely regarded as the first petrol-powered car, back in 1886. For now, Mercedes is holding onto its charging operations in the United States and China, which are not part of the Electra sale.

The sale was tucked into Mercedes' third-quarter financial update released in October, with the proceeds folded in among other revenue figures. While the results didn't paint a picture as dire as those recently reported by Volkswagen, they did suggest a company tightening its belt. Mercedes has introduced a voluntary redundancy programme for staff and is cutting costs wherever possible. Several models are being axed, including the EQE and the Maybach-branded version of the EQS, while executives have floated the possibility of closing production plants.

The company points to thinner profit margins on electric vehicles and a weakening new car market in China as key drivers of the squeeze. It's a sobering reminder that even strong products — Mercedes currently has the reigning European Car of the Year in its lineup — aren't enough to insulate a carmaker from broader economic pressures sweeping the industry.

Source: Electrifying.com

Before this, we covered: Rivian Raises 2026 Guidance After Q3 Revenue Growth