Oil giant BP announced today that it’s in the process of buying Chargemaster, who operate the country’s largest EV charging network with over 6,500 public charging points around the UK.
The sale will cost BP £130 million.
BP say that the move is an “important step in scaling up and deploying a fast and ultra-fast charging network on BP’s UK forecourts.” BP, who run around 1,200 petrol stations, are anticipating a rapid shift from petrol to electric cars over the coming years. They estimate that by 2040 there will be around 12 million electric vehicles on British roads.
Last year, rivals Shell purchased Dutch charging company NewMotion for an undisclosed amount.
- Founded in 2008
- Operates POLAR, the UK’s largest EV charging network
- Is also a leading supplier of charging infrastructure
- Operates over 6,500 public charging points
- Will be re-branded as “BP Chargemaster” once the sale is complete
Chief executive of BP Downstream Tufan Erginbilgic said: “At BP we believe that fast and convenient charging is critical to support the successful adoption of electric vehicles. 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 UK government are pushing ahead with plans to ban the sale of new petrol & diesel cars by 2040, with a target of three-fifths of new cars being electric by 2030.