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Home Motoring BP to invest $1.3 billion over the next decade to UK electric vehicle charging network

BP to invest $1.3 billion over the next decade to UK electric vehicle charging network

by Dennis Mathu
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BP (British Petroleum) is a major oil company and a house hold name when it comes to refueling vehicles, however, with the fast changing world and the requirement for companies to be carbon-neutral, the oil giant has been venturing into electric vehicle charging stations.

Through its EV charging business, BP pulse, the company has announced a plan to invest 1 billion pounds ($1.32 billion) in electric vehicle charging in the United Kingdom over the next decade. Currently, the oil giant has around 8,000 rapid charging points near petrol stations. With the investment, BP will triple the number of public charging points in its UK network.

The move isn’t surprising after the company stated in January that its fast electric charging points were on the verge of becoming more profitable than filling up a petrol car. In addition, the investment aligns with the company’s plan to halve its operational emissions by 2030, compared with a previous target of reducing it by 30-35%. Eventually, BP has a mission of reaching net-zero emissions by 2050. With that misson in mind, its easy to predict that its EV network will extend to other countries that BP operates in. 

“I am delighted that BP pulse is supporting the transition to cleaner vehicles as we accelerate towards our net-zero ambitions and boost green jobs opportunities right across the UK,” British transport minister Grant Shapps said in a statement. 

The news followed a report that BP’s 2021 profits had hit their highest level in eight years thanks to the soaring gas and oil prices. 

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