Acquisition marks Shell’s expansion into the fast-growing on-street EV charging market and will provide critical competencies, helping to scale its overall EV charging offer.
Shell has agreed to acquire on-street electric vehicle (EV) charging company Ubitricity as it bids to step up its efforts to “support drivers as they switch to lower-carbon transport”.
Subject to regulatory clearance, the energy provider expects the deal, which will see it wholly own Ubitricity, to be completed later this year.
Founded in Berlin, Germany, Ubitricity operates in several European countries, and is one of the largest public EV charging networks in the UK with more than 2,700 charge points, representing 13 per cent of market share.
The company has also established emerging public charging positions in Germany and France and has installed some 1,500 private charge points for fleet customers across Europe.
Ubitricity works with local authorities to integrate EV charging into existing street infrastructure such as lamp posts and bollards.
Shell said the acquisition marks its expansion into the fast-growing on-street EV charging market and will provide critical competencies, helping to scale its overall EV charging offer.
“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”
Around 1,000 ultra-fast and fast charging points are already in operation at 430 Shell retail sites with worldwide access to 185,000 third-party EV charging points.
“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,” said István Kapitány, executive vice president of Shell Global Mobility.
“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. Whether at home, at work or on-the-go, we want to provide our customers with accessible and affordable EV charging options so they can charge up no matter where they are.”
This is the latest move from Shell as it expands its low-carbon transport options for customers, helping them to reduce their carbon footprint. The company’s ambition is to become a net-zero emissions energy business by 2050, or sooner, in step with society.
Once the deal is completed, Ubitricity is expected to become a wholly owned subsidiary of Shell.
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