Electric vehicle (EV) adoption is on the rise globally, with an increasing number of people turning to eco-friendly transportation options. With this shift comes a growing need for reliable and convenient EV charging infrastructure. To meet this demand, major oil and gas companies like Shell and BP are investing heavily in expanding their EV charging networks.
Shell’s Acquisition of Volta: A Significant Move in the EV Charging Market
One of the most significant recent developments in this area is Shell’s acquisition of Volta, an EV charging network with a presence in 31 states. The acquisition, worth $169 million, gives Shell near-instant access to drivers in several states, including North Carolina, Ohio, Illinois, and Texas. Volta’s chargers feature media screens and display ads while the vehicle is plugged in, making it an attractive option for drivers who want to make the most of their charging time. Volta has provided over 150 million electric miles and saved more than 70 million pounds of CO2 emissions with its chargers, making it a sustainable and environmentally-friendly option.
However, Shell’s acquisition of Volta is just one of many moves by oil and gas companies to expand their EV charging networks. BP has also been investing heavily in charging infrastructure, teaming up with Hertz to build a charging network across rental company locations in several states. Hertz has pledged to have a quarter of its rental fleet electric by 2024, making this partnership an important step towards achieving that goal. BP is also readying a $1 billion investment in charging infrastructure, with plans to roll out 70,000 public EV charging points in the UK by 2030.
Pilot Company, one of the largest gas station chains in the US, is also getting in on the EV charging game. The company has partnered with General Motors and EVgo to build 2,000 350 kW fast chargers for its travel center locations near highways. This partnership will enable drivers to access fast charging stations while on long trips, making it easier and more convenient to switch to electric vehicles.
These moves by oil and gas companies to expand their EV charging networks are an important step towards making sustainable transportation more accessible and convenient for everyone. As EV adoption continues to grow, it’s essential to have a reliable and widespread charging network in place to support the transition to electric vehicles. With major players like Shell and BP investing heavily in this technology, the future looks bright for EV charging infrastructure.