- BP plc (NYSE:BP) has announced a £1 billion investment for the U.K. electric vehicle (EV) charging infrastructure over ten (10) years.
- The investment, which will see a tripling of charging points by 2030, was unveiled during an official visit by Transport Secretary Grant Shapps to BP pulse's UK headquarters in Milton Keynes.
- It coincides with a new UK Government electric vehicle infrastructure strategy to install 300,000 public chargers "as a minimum" by 2030.
- BP said it would accelerate the roll-out of 300kW and 150kW ultra-fast charging points that can provide EV drivers up to 100 miles of range in around 10 minutes of charging, depending on the electric model.
- The Company says that 50% of BP pulse's network worldwide and 30% of its UK network is now made up of rapid or ultra-fast charging.
- Shapps acknowledged that "convenient, reliable, and affordable charging" is key to the green revolution. This investment will make it easier for drivers up and down the country to go electric.
- BP Pulse plans to help electrify the UK's fleet vehicles and intends to help accelerate the roll-out of EV charging solutions to businesses. It is working with Royal Mail, Uber Technologies Inc (NYSE:UBER), and emergency services in London and Scotland.
- Price Action: BP shares are down 1.46% at $30.29 during the premarket session on the last check Friday.
- Photo via Wikimedia Commons
