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BP to buy Chargemaster

Date: 28 June 2018   |   Author: Sean Keywood

BP has agreed a deal to buy electric vehicle (EV) charge point firm Chargemaster.

The deal will see Chargemaster rebranded as BP Chargemaster.

It operates Polar, the UK's largest public network of charge points with more than 6,500, and also designs, builds, sells and maintains EV charging units for a wide range of locations, including for home charging.

BP says the acquisition is an important step towards scaling up and deploying a fast and ultra-fast charging network on its UK forecourts. 

BP Downstream chief executive Tufan Erginbilgic said: "Bringing together the UK's leading fuel retailer and its largest charging company, BP Chargemaster will deliver a truly differentiated offer for the country's growing number of EV owners. 

"At BP we believe that fast and convenient charging is critical to support the successful adoption of EVs.

"Combining BP's and Chargemaster's complementary expertise, experience and assets is an important step towards offering fast and ultra-fast charging at BP sites across the UK, and to BP becoming the leading provider of energy to low-carbon vehicles, on the road or at home."

BP predicts rapid growth in EV numbers, estimating 12 million will be on UK roads by 2040, up from around 135,000 in 2017.

The firm says that to accelerate the adoption of EVs, customers will require convenient access to fast and ultra-fast charging. 

It says its UK retail network is well positioned to provide this access with more than 1,200 service stations across the country.

It says a key priority for BP Chargemaster will be the rollout of ultra-fast charging infrastructure, including 150kW rapid chargers capable of delivering 100 miles of range in just ten minutes. 

BP says its customers in the UK can expect to access BP Chargemaster chargers on forecourts over the next 12 months.

Chargemaster chief executive David Martell said: "The acquisition of Chargemaster by BP marks a true milestone in the move towards low-carbon motoring in the UK.

"I am truly excited to lead the Chargemaster team into a new era backed by the strength and scale of BP, which will help us maintain our market-leading position and grow the national Polar charging network to support the large range of exciting new EVs that are coming to market in the next couple of years."

 



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