EV public chargepoint provider Ubitricity has been acquired by Anglo-Dutch oil major Shell. Terms of the deal have not been disclosed.
Ubitricity is headquartered in Berlin, and is best known in the UK for charging points built into existing infrastructure, such as lamp posts. A minority share in the company was bought by technical partner Siemens in 2017, and this share has also been acquired by Shell. Siemens plans to maintain its partnership with Ubitricity, through Shell, and continue to service charging infrastructure across London boroughs, as well as work jointly on new projects if they arise.
This acquisition marks Shell’s expansion into the fast-growing on-street EV charging market. Commenting, István Kapitány, Executive Vice President of Shell Global Mobility, said, “Working with local authorities, we want to support the growing number of Shell customers who want to switch to an EV by making it as convenient as possible for them”.
Shell is not the only oil company to invest in charging infrastructure. BP acquired Chargemaster in 2018 and Total acquired G2mobility in the same year and Source London, the capital’s largest charging network in 2020. .
The Shell deal is subject to all the usual regulatory approvals.
For the latest news and analysis from around the aftermarket, sign up to the CAT eNewsletter today