Royal Dutch Shell agreed to buy 100% of ubitricity, a leading European provider of on-street charging for electric vehicles (EVs), the company said in a statement on Monday.
Founded in Berlin, Germany, ubitricity operates in several European countries and is the largest public EV charging network in the UK with over 2,700 charge points.
Completion of the agreement is expected late this year.
According to the statement, the purchase will help Shell scale its overall EV charging through public on-street charge points integrated into existing street infrastructure.
The acquisition also marks Shell’s expansion into the fast-growing on-street EV charging market in its support of low-carbon transport and its plan to become a net-zero emissions energy business by 2050
By Gokce Kucuk Topbas