As the EV sales begin to boom and the share price of EV company’s such as Tesla go through the roof, oil giants have been turning to EV charge points as a way to turn away from fossil fuels and still be profitable.
The Anglo Dutch company, Shell which has petrol stations dotted all over the country, has pledge to invest in a huge expansion of its EV charging network in Fullham. Just last year, in Shell opened its first EV forecourt which had 10 ultra-rapid charge points. Cleverly, they also has a Waitrose, Costa, free-wifi and toilets so that customers had services to use while their car was charging.
The company owns 60,000 charging points worldwide under its brands Ubitricity and NewMotion but the company claimed this will increase to a staggering half a million by the end of 2025.
In addition to investing in charge points, the company has also put more energy into renewables and biofuels with the hope of dramatically growing hydrogen production and sales.
In term of their business plan, Shell has a target of selling 560TWh of electricity a year by 2030 for both vehicle and domestic use. To put those number into context, this is more than double its current levels.
But Shell are not alone, other oil giants such as BP are looking to diversity their company in the wake of the gradual switch to electric and renewables. BP predicts that renewables will account for 30% of global power by 2030. They have also estimated that coal will become completely unused and gas and nuclear will steeply decline by 2030. The company has acquired an EV charging company called Charge Master and also StoreDot, clearly to keep up with other in the industry.
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