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    BP builds up US EV charging ops with Amply purchase


    December 8, 2021 - SeeNews Deals

     

      December 8 (SeeNews) - British oil and gas major BP Plc (LON:BP) on Tuesday unveiled the acquisition of US electric vehicle (EV) charging provider Amply Power with the aim of accelerating electrification in the fast-growing fleet segment in the US.

      The financial terms of the transaction were not disclosed. Under the terms, Amply Power will be an independent entity within BP’s global portfolio.

      Headquartered in Mountain View, California, Amply Power was founded in 2018 and has 35 staff. The company provides EV charging and energy management services for fleets that operate trucks, transit and school buses, vans and light-duty vehicles.

      By 2030, BP aims to almost double the earnings generated through its global convenience and mobility businesses from around USD 5 billion (EUR 4.4bn) in 2019 Over the same period, the UK energy company plans to grow more than six times to over 70,000 its global network of EV charging points.

      BP noted that expanding into EV fleet charging steps up its commitment to the energy transition in the US. The move builds on the company's significant investments in offshore wind in New England made earlier in 2021 as well as its onshore wind capabilities in seven US states and its rapidly-growing presence in solar power.

      (USD 1 = EUR 0.888)

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