Shell buys another European electric vehicle charging company

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.