Mercedes-Benz has exited the EV charging market in Europe, selling its network to French operator Electra. The move was disclosed in the automaker’s third-quarter financial report, where the German brand said that the assets associated with the business were valued at €99 million ($111 million).

The sale, first reported by Electrive, means that Mercedes-Benz will now rely on external partnerships for EV charging exclusively in Europe. The car manufacturer’s proprietary EV network had 374 fast-charging ports at 47 locations across the region, all of which are now part of Electra’s growing network.

As part of the transaction, Electra is now a “Premium Partner,” second only to Ionity. What’s more, Mercedes-Benz EV drivers can now charge at discounted rates at over 5,000 Electra chargers across 800 locations in several European countries.

The German automaker’s fast charging business in the United States is unaffected by the European sale. That said, the move shows that Mercedes-Benz is no longer willing to invest its own money into building a premium charging experience. Instead, it’s relying on big partners like Ionity, which is already one of the best-performing networks in Europe.

One reason for the sale may be economies of scale. Paul Tonini, Electra’s General Manager for Germany, told Electrive that the market is increasingly consolidating around larger providers, which means that relatively small players like the now-defunct Mercedes-Benz Charging Network in Europe have a hard time keeping finances in check.

The bigger the network, the larger the potential for income. Meanwhile, Mercedes-Benz gets premium access to the network it used to operate, as it looks to expand its partnerships with third-party providers, offering EV owners discounted rates at more than one network.

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