Jan 25, 2021 - Energy & Environment

Shell buys another European electric vehicle charging company

Animated GIF of electric car as a lightening bolt

Illustration: Sarah Grillo/Axios

Shell is buying the European electric vehicle charging company Ubitricity, the companies announced this morning without disclosing the deal's size.

Why it matters: Ubitricity says it is the largest charging public charging network in the UK, with over 2,700 charge points, and operates in several cities.

  • It's the latest sign of how European oil giants are moving into climate-friendly areas like renewables and other power services, though fossil fuels remain their dominant business lines.

The big picture: Shell has made multiple moves in the EV charging space, in recent years acquiring NewMotion, which is also in Europe, and the U.S. company Greenlots.

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