Oil giant Shell buys leading operator of electric vehicle charging stations
Royal Dutch Shell, a leading global oil and natural gas producer, will purchase a top European operator of electric vehicle charging stations in a push to roll out the technology at its service stations.
Shell said it would use the acquisition to help roll out electric vehicle charing stations at many of its 45,000 service stations around the world, the Financial Times reports.
"Today's announcement is an early step towards ensuring customers can access a range of refueling choices over the coming decades, as new technologies evolve to co-exist with traditional transport fuels," Matthew Tipper, Shell's Vice President for New Fuels, said in a statement.
Analysts at Bloomberg New Energy Finance predicted this year that one-third of automobiles in the world will be electric by 2040, a shift that will cut demand for oil production by about 8 million barrels a day.