Monday 25 January 2021 9:48 am

Shell to buy electric vehicle charging firm Ubitricity

Oil giant Shell has today announced that it will buy Ubitricity, the UK’s biggest electric vehicle charging network, for an undisclosed sum.

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The Berlin-founded firm currently owns 2,700 EV charging points in the UK, about 13 per cent of market share.

The acquisition will allow Shell to expand its own charging network, which currently comprises over 1,000 charge points.

Ubitricity works with local authorities to integrate charging points into existing physical infrastructure, such as lampposts.

This is particularly helpful for those electric car drivers who do not have access to a private charger.

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Shell’s executive vice-president of global mobility, said: “Working with local authorities, we want to support the growing number of Shell customers who want to switch to an EV by making it as convenient as possible for them.

“On-street options such as the lamp post charging offered by ubitricity will be key for those who live and work in cities or have limited access to off-street parking.”

Shell is one of several oil behemoths to be targeting a wholesale revamp of its business as it seeks to embrace the coming “energy transition”.

The Anglo-Dutch firm has set itself the goal of being a net zero emissions outfit by 2050.

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Last year it cut 9,000 jobs as the oil price collapse caused by the coronavirus pandemic expedited plans for restructuring the firm.