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BP to acquire the UK’s largest electric vehicle charging company

BP 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 more than 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.

The number of EVs on the road is anticipated to increase rapidly in coming decades. BP estimates that by 2040 there will be 12 million EVs on UK roads, up from around 135,000 in 2017.

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. The development of convenient and innovative EV charging technologies and networks is a key part of BP’s strategy to advance the energy transition.

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 more than 1,200 service stations across the country.

A key priority for BP Chargemaster will be the rollout of ultra-fast charging infrastructure, including 150 kW 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.

Founded in 2008, Chargemaster runs POLAR, the largest public charging network in the UK. The POLAR network now includes more than 6,500 public charging points. The company has more than 40,000 customers of its POLAR network, of which an increasing number choose to pay a monthly subscription, and the remainder access on a pay-as-you-go basis.

Chargemaster is also a leading supplier of home charging points across the UK and has strong links with car manufacturers, as the charging partner for a number of car brands in the UK.

Upon completion of the transaction, Chargemaster employees will continue to be employed by BP Chargemaster or its subsidiaries. BP Chargemaster will operate as a wholly-owned BP entity.

Comments

HarveyD

Good move by BP to ensure (after Oil) business. It will go well with their H2 stations business.

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