BP has bought Chargemaster, the UK’s biggest electric charging network, marking “a true milestone in the move towards low carbon motoring in the UK.”
The deal, which is reportedly worth £130m, will see Chargemaster rebranded as BP Chargemaster and chargers will be installed at BP petrol stations over the next year.
There are currently around 6,500 Chargemaster charging points across the country and already over 140,000 electric and hybrid vehicles. BP’s Energy Outlook 2018 report estimates that there will be 12 million electric vehicles by 2040.
The new BP Chargemaster charge points will be able to provide 450-600 miles per hour of charging. These ultra-fast charge points are considerably faster than the 6-12 hours it would take to charge a car at home.
Chief executive of BP’s downstream division, Tufan Erginbilgic, said:
“At BP we believe that fast and convenient charging is critical to support the successful adoption of electric vehicles.
“Combining BP’s and Chargemaster’s complementary expertise, experience and assets is an important step towards offering fast and ultra-fast charging at BP sites across the UK and to BP becoming the leading provider of energy to low carbon vehicles, on the road or at home.”
David Martell, chief executive of Chargemaster, said: “I am truly excited to lead the Chargemaster team into a new era backed by the strength and scale of BP, which will help us maintain our market-leading position and grow the national POLAR charging network to support the large range of exciting new electric vehicles that are coming to market in the next couple of years.”
BP says that consumers in the UK have already shown that they have “a strong appetite” for electric vehicles which is a positive sign for moving into markets in Europe and worldwide.
Chargemaster employees will continue to be employed by the rebranded BP Chargemaster.
Image: Jaguar. The new Jaguar I-Pace would be able to go for around 100 miles on a 10-minute charge from a BP Chargemaster.
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