Shell to buy electric vehicle charging providers
The Shell logo at a petrol station in London, Wednesday, Jan. 20, 2016. (THE CANADIAN PRESS / AP / Kirsty Wigglesworth)
The Associated Press
Published Thursday, October 12, 2017 10:55AM EDT
LONDON -- Oil company Shell has signed an agreement to buy electric vehicle charging firm NewMotion. It did not disclose terms.
The company, which will become a wholly owned subsidiary of Royal Dutch Shell, operates more than 30,000 private electric charge points for homes and businesses in the Netherlands, Germany, France and the U.K.
Shell's Vice-President for New Fuels, Matthew Tipper, says Thursday that the deal will give customers "flexibility to charge their electric vehicles at home, work and on the go."
Shell has insisted it is planning for the day when demand for oil starts to fade. CEO Ben van Beurden has promised to look at "very aggressive scenarios" to remain competitive in a world that gets more of its energy from renewable sources and less from crude oil.