Carso Motors acquires all shares in the charging company GNRGY. Freesbe will purchase the 40% stake held by Ran Eloya, the company’s founder and former CEO, for an amount estimated at several million shekels.
GNRGY was one of the first charging companies in Israel and was established back when Better Place was a major promise in the field. The company specializes in installing charging stations for commercial clients and private homes, operates a public fast-charging network, and even manufactures slow-charging stations at its factory in Ashkelon.
In 2021, OPC, controlled by Idan Ofer, acquired 51% of GNRGY for NIS 67 million. Three years later, Freesbe purchased OPC’s stake for roughly half of OPC’s original investment.
The charging sector has not yet reached the profitability that investors expected, partly due to the slowing rate of electric vehicle adoption in the local market. Currently, there are 214,000 electric vehicles on Israeli roads, after last year the market share of electric vehicles dropped from 25% in 2024 to 20% officially, while in practice the records included roughly 20,000 electric vehicles that were not sold. Afcon (ON), Paz (Paz Charge), Sonol EV, and EV-EDGE operate public networks larger than GNRGY’s.
Carso Motors, managed by Itzik Weitz, consolidates its automotive operations under the name Freesbe, led by Oren Elezra. Last year, the company announced plans to acquire 50% of the charging company Sonol EVI, but the move did not materialize.