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BP buys UK's largest car charging firm Chargemaster


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BP

Oil giant BP is buying the UK’s largest electric charging network, Chargemaster, for an undisclosed sum.

BP runs 1,200 petrol forecourts, but said earlier this year it expected renewable energy to be the fastest-growing fuel source.

It said the number of electric vehicles in the UK is set to grow from 135,000 at present to 12 million by 2040.

The move echoes one made last year by rival Shell, which bought car charging company NewMotion.

All leading car manufacturers are moving into electric vehicle production. Volkswagen, the world’s biggest carmaker, has said it will offer an electric version of all its 300 models by 2030.

Chargemaster, which will be rebranded BP Chargemaster, currently has 6,500 charging points and also sells electric vehicle charging points for home use.

BP said the acquisition was an important move towards the company becoming the leading provider of energy to low carbon vehicles.

It said one of its goals was to speed up charging capability to enable chargers capable of delivering 100 miles of range in within 10 minutes.

Chargemaster, which was founded in 2008, runs POLAR, the largest public charging network in the UK. It has more than 40,000 customers, some of whom pay by monthly subscription.



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