Shell To Buy Electric Vehicle Charging Providers

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Global oil and lubricants major, Royal Dutch Shell has agreed to buy European electric charging network provider, the Netherlands-based NewMotion marking the first deal for the oil major in electric mobility, as per Reuters.

Shell said NewMotion, which manages over 30,000 charging points for electric vehicles in Western Europe and offers access to thousands more, will operate in parallel to Shell's programme of rolling out fast charging points at its forecourts. The Dutch company also provides access to a network of more than 50,000 public charge points across 25 countries in Europe for more than 100,000 registered charge cards.

"Under the terms of the deal, NewMotion will continue business as usual as a wholly owned subsidiary of Shell", the oil and gas supermajor said in its statement, which did not disclose the price of the acquisition. The company's CEO, Ben van Beurden has maintained that the oil company is preparing for the day when oil sales start to decline. Shell said both companies will work together to maximise the synergies and opportunities on offer.

The news comes just a few months after Shell announced it would begin installing charge points in the United Kingdom through a partnership with Dutch electric vehicle charging provider Allego.

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