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BP acquires UK's largest EV charging company

28/06/2018
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BP continues the trend of oil majors diversifying into the broader energy market, with the acquisition of Chargemaster, the operator of the UK’s largest electric vehicle (EV) charging network and the leading supplier of EV charging infrastructure.
The acquisition will see the company renamed BP Chargemaster, combining Chargemaster's extensive EV charging network with BP's 1,200 service stations.
(Image via BP).

The acquisition will see the company renamed BP Chargemaster, combining Chargemaster’s extensive EV charging network with BP’s 1,200 service stations, in a move that will widen access to electric vehicle charging in the UK. Plans include the roll out of ultra-fast charging infrastructure, including 150 kW chargers capable of delivering 100 miles of range in just 10 minutes.

BP states that UK customers can expect to see BP Chargemaster chargers appearing on forecourts over the next 12 months.

Commenting on the deal, BP’s Downstream Chief Executive, 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 complimentary 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.”

“A key part of BP’s strategy to advance the energy transition is to develop new offers to meet changing customer demand and grow new businesses that support customers to reduce their emissions.”
The acquisition follows BP's prediction that there will be twelve million electric vehicles on the UK roads by 2040.
(Image via BP).

Chief Executive of Chargemaster, David Martell, said:

“The acquisition of Chargemaster by BP marks a true milestone in the move towards low carbon motoring in the UK. I am truly excited to lead the Chargemaster team into a new era backed by the strength and scale of BP, which will help us maintain our market-leading position and grow the national POLAR charging network to support the large range of exciting new electric vehicles that are coming to market in the next couple of years.”

The acquisition adds to the growing number of investments by BP in electric vehicle technology and infrastructure and builds on plans to extend the range of fuels on offer for its customers changing needs.

The number of electric vehicles on the road is anticipated to increase rapidly in coming decades. Figures from BP’s Energy Outlook 2018 estimates there will be twelve million electric vehicles on the UK roads by 2040.

UK consumers have shown a strong appetite for electric vehicles which for BP represents a strong test-bed for possible replication in markets in Europe and worldwide.

The Oil & Gas industry is in transition

If you want to join the Oil & Gas industry as it enters into an exciting period of change, explore Fircroft’s vacancies now.
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BP acquires UK's largest EV charging company - Time to read 3 min
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