Switchback Energy Acquisition completed the merger with ChargePoint in a $2.4bn deal.

Switchback Energy Acquisition, a publicly traded SPAC with a strategic focus on the energy sector, completed the merger with ChargePoint, an electric vehicle charging network, in a $2.4bn deal. “ChargePoint has a proven and capital-light business model that combines hardware and high-margin, recurring software subscriptions and services with extensive and strong customer relationships. As a result, we believe ChargePoint will continue to grow its strong market position as the EV industry evolves. Switchback and our investors are excited to partner with the talented ChargePoint team to advance their vision,” Scott McNeill, Switchback CEO, CFO and Director.