By: Kurt Østrem, CEO of Zaptec.
Innovation born from the underdog mentality
Zaptec isn't a conglomerate. We are a team of 200 dedicated employees. We are not the biggest, but we aim to be the smartest. We have the nimbleness to sidestep while others are still turning their wheels. As market leaders in some of the most well-developed EV markets on the planet, we've specialised our expertise in the challenges of early adoption – and the unique demands of the broader, rapidly expanding customer base. And I believe this latter category is our key to succeeding in a very competitive market. Innovating products for early adopters is one task – but creating a product and experience that fits the customers in the mass-adoption and late-adopter categories is entirely different.
This is especially true as we are positioning ourselves to grab market shares in the rest of Europe. Remember, in Europe, the electric vehicle wave has only just begun. When Europeans charge at home, at their office, or at a public car park, we will do everything in our power to make sure that is done with a charger from Zaptec.
Calculated expansion
Being nimble and smart does not mean we don’t have plans to grow. We are going to continue to grow. I have no belief that success means stabilising at today's level, polishing the margins, and saying that we are 'happy' with that. Right now, we are strategically positioning ourselves in Europe to strike with full force as soon as the market turns. Because it will – with 100% certainty. It's inevitable. We are gearing up to strike with full force, but we are trying to do it in a way that doesn’t require us to take on enormous debt. As many companies do. Call it ‘living within our means’. Or down-to-earth practicality.
And here in Norway, people might not see the big picture. But when I talk to people on my travels out in Europe, people connected to the car industry and the entire ecosystem around it, they are completely shocked when I say that we had a 94% increase in turnover from 2022 to 2023. We’re gaining market shares. And that we are gearing up for further growth. The short-term macroeconomic challenges make others gun-shy. Or many are simply on their knees. But that's what makes Zaptec's position so unique. Here we are.
