Shell prepares itself to get a slice of the EV charging pie.
Shell, one of the largest oil and gas company, announced a new “strategy to accelerate its transformation into a provider of net-zero emissions energy products and services.”
We know that the company is already engaged in electric vehicle charging, mostly through acquisitions (The New Motion in 2017, Greenlots in 2019 and Ubitricity most recently).
The number of Shell charging points (globally) is expected to increase from about 60,000 now to about 500,000 by 2025. In the UK specifically, the network at that point should include over 5,000 charging points.
“Target to increase Adjusted Earnings to around $6 billion by 2025 (from $4.5 billion in 2020), achieved by improving the already market-leading position of the lubricants business, an increase to 40 million customers at 55,000 retail sites (from 30 million at 46,000 sites today) and growth of global electric vehicle (EV) network from more than 60,000 charge points today to around 500,000 by 2025.”
One of the major competitors, BP, is also trying to engage in electric vehicle charging infrastructure on a mass scale.
Only time will tell whether the switch from fossil fuels to electricity will be successful because it’s a significantly different business. Starting with home charging (the primary method) and trying to end the disruptive approach from some players like Tesla (Supercharging network).
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