Subscribe to our newsletter
Fill out the form to subscribe to our mailing list and be on the lookout for events and news concerning electric mobility. Informing consumers and making known the artisans of this industry is at the heart of our concerns. Subscribe and stay informed on a range of topics that interest you!
BP says fast charging could soon be more profitable than selling gas
The European oil companies BP, Shell and Total have been buying up assets in the EV charging value chain, and some suspect there’s a sinister strategy—could the oil barons monopolize public charging in key markets, jack up the prices, and kill the electric car once and for all?
Maybe. But what if the companies find that selling electrons is more profitable than selling distilled dinosaurs? According to BP, that potentially game-changing milestone may not be far away.
Reuters reports that so far, EV charging has been a money-loser for BP and its rivals. BP doesn’t expect its charging division to turn a profit before 2025. However, on a margin basis, BP’s fast charging stations are getting close to delivering the same margins the company earns from pumping petrol.
Read the whole news on chargedevs.com