Shell snaps up EV charging player Greenlots

What they're saying: "Together, the companies will offer best in class software and services that enable large-scale deployment of smart charging infrastructure and integrate efficiently with advanced energy resources like solar, wind and power storage," the companies said in a joint statement.

• The companies did not disclose the size of the deal, which is focused on U.S. operations.
• Greenlots will be a subsidiary of Shell New Energies U.S., but "Greenlots will retain its brand identity and leadership team," the announcement states.

The big picture: Oil majors, especially the European-headquartered players, have made a suite of moves in EV charging and related tech in recent years, including:

• Shell's 2017 purchase of the European charging company NewMotion.
• Total's 2018 acquisition of the charging firm G2mobility.
• Last year, BP bought the U.K. charging network Chargemaster.
• U.S.-based Chevron is among the investors in ChargePoint.

The bottom line: It's part of the industry's wider diversification into renewables and low-carbon tech, even though oil-and-gas remains the overwhelming majority of their portfolios.

Go deeper:

• BP moves into China's electric vehicle charging market
• Exxon mulling investing in electric-vehicle charging