BP to acquire the UK’s largest electric vehicle charging company18th Edition News
Posted by: electime 29th June 2018
BP has announced that it has entered into an agreement to purchase Chargemaster, the UK’s largest electric vehicle (EV) charging company.
Chargemaster operates the UK’s largest public network of EV charging points, with over 6,500 across the country. It also designs, builds, sells and maintains EV charging units for a wide range of locations, including for home charging.
Tufan Erginbilgic, chief executive, BP Downstream, said: “Combining BP’s and Chargemaster’s complementary expertise, experience and assets is an important step towards offering fast and ultra-fast charging at BP sites across the UK and to BP becoming the leading provider of energy to low carbon vehicles, on the road or at home.”
The number of EVs on the road is anticipated to increase rapidly in coming decades. By 2040 BP estimates that there will be 12 million EVs on UK roads, up from around 135,000 in 2017.
The development of convenient and EV charging technologies and networks is a key part of BP’s strategy to advance the energy transition. BP is committed to developing new offers to meet changing customer demand and growing new businesses and supporting opportunities for customers to reduce their emissions.
BP believes that to accelerate the adoption of EVs, customers will require convenient access to fast and ultra-fast charging. BP’s UK retail network is well positioned to provide this access with over 1,200 service stations across the country.
A key priority for BP Chargemaster will be the rollout of ultra-fast charging infrastructure, including 150kW rapid chargers capable of delivering 100 miles of range in just 10 minutes.
BP customers in the UK can expect to access BP Chargemaster chargers on forecourts over the next 12 months.