BP has acquired Britain’s biggest electric car charging network as it prepares for a surge in demand in the coming years. The oil giant said that it was buying Chargemaster, which operates 6,500 charging points at 1,200 petrol stations across the UK. It also designs, builds and maintains electric charging units, including for use by motorists at home. BP has operations in more than 70 countries, ranging from exploring for gas off Africa to selling ready meals and fuel at its service stations around Britain. The company reported profits of $2.8 billion last year and it employs more than 70,000 people. The deal to acquire Chargemaster, which was founded in 2008 and is based in Luton, is thought to be worth £130 million. Tufan Erginbilgic, chief executive of BP’s Downstream business, said that it would position BP a s a “leading low-carbon provider for electric vehicles”. He added that BP wants to take “the leading position” for electric vehicle (EV) charging and will seek to replicate its model in other markets.
Times 29th June 2018 read more »
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