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    BP to invest up to GBP50 million in UK EV battery research


    August 1, 2022 - Alliance News

     

      (Alliance News) - BP PLC on Monday said it is "backing Britain" as it plans to invest up to GBP50 million in a new electric vehicle battery testing centre and analytical laboratory in Pangbourne.

      "The new facilities will be located at BP's existing global headquarters for its Castrol business in Pangbourne, Berkshire, and will support the technology, engineering and science roles housed there today. The site already undertakes research and development of fuels, lubricants and EV fluids and aims to become a leading hub for fluid technologies and engineering in the UK," the oil producer explained.

      The facilities are expected to open in 2024. The site already undertakes research and development of fuels, lubricants and EV fluids and aims to become "a leading hub for fluid technologies and engineering" in the UK.

      "We're backing Britain. We're fully committed to the UK's energy transition. This additional investment will help accelerate the transition to EVs by developing solutions to help decarbonise the transport sector. This is another example of our ambitious plans to do more, and go faster," said Louise Kingham, BP's UK head of country.

      This is part of BP's plans to invest up to GBP18 billion in the UK's energy system by the end of 2030.

      Shares in BP were up 0.2% at 400.58 pence in London on Monday.

      By Lucy Heming; lucyheming@alliancenews.com

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