Dec 8, 2021 - Energy & Environment

BP enters U.S. EV charging services market

A BP logo on a sign at a gas station in London

Photo: Chris J. Ratcliffe/Bloomberg via Getty Images

BP is acquiring Amply Power, a three-year-old tech startup that provides a suite of services for electric vehicle fleets.

Why it matters: BP, in Tuesday's announcement, said the acquisition represents its "first major step into electrification in the U.S." Terms of the deal were not disclosed.

  • It's also part of oil majors' wider diversification into renewables, hydrogen, charging, batteries and other areas outside their core oil-and-gas businesses.

How it works: Amply helps fleets manage and optimize charging at a time when corporations, cities and others are increasingly looking to electric delivery vans, buses, trucks and cars.

  • The offerings include "charging as a service," in which Amply helps with areas like hardware procurement, software and maintenance issues.

Catch up fast: BP has made a series of acquisitions and investments in the charging hardware and tech space, such as its 2018 purchase of U.K. provider Chargemaster.

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