Jun 28, 2018

BP buys electric vehicle charging firm Chargemaster

What the rebranded BP Chargemaster may look like. Photo: BP

Oil-and-gas giant BP announced Thursday that it's buying the U.K.'s largest electric vehicle charging network, Chargemaster, for roughly $170 million.

The big picture: The move comes amid efforts by European regulators to bolster the share of EVs on roads. BP estimates that by 2040 there will be 12 million EVs on U.K. roads, up from 135,000 last year.

More broadly, it's the latest sign of European-based oil majors making increasing investments in the electricity and EV space, although it remains a very small part of their overall budgets.

The details:

  • "Chargemaster is the largest supplier of public, workplace and home charging units in the UK and has supplied over 50,000 charging points across Europe," the announcement notes.
  • A BP spokesperson told Axios the cost of the acquisition will be roughly $170 million.
  • The company will be rebranded BP Chargemaster.

Context: Last year Shell bought the big European EV charging company NewMotion, while last month BP announced a $20 million investment in the Israel-based fast-charging battery company Storedot.

The bottom line: BP says it's a good fit with its retail fuel stations across the country.

  • "BP believes that to accelerate the adoption of EVs, customers will require convenient access to fast and ultra-fast charging. BP’s UK retail network is well positioned to provide this access with over 1,200 service stations across the country," the company said Thursday.

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Top Trump ally sounds 2020 election alarm over coronavirus response

Photo: Jim Watson/AFP via Getty Images

There is growing concern among top conservative leaders that the Trump administration isn't addressing the long-term economic impact of the coronavirus, several sources tell Axios. One top adviser said if the recovery is bungled it could cost President Trump the election.

What we're hearing: "The next 4-8 weeks is really going to decide whether Trump gets reelected," Stephen Moore, Trump's former nominee for the Federal Reserve board, told Axios. If the administration mishandles its economic recovery efforts, he said, Trump is "in big trouble."

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 10 p.m. ET: 1,600,427 — Total deaths: 95,506 — Total recoveries: 354,006Map.
  2. U.S.: Total confirmed cases as of 10 p.m. ET: 465,329 — Total deaths: 16,513 — Total recoveries: 25,410Map.
  3. Public health latest: U.S. has expelled thousands of migrants under a CDC public health orderDr. Anthony Fauci said social distancing could reduce the U.S. death toll to 60,000.
  4. Business latest: The Fed will lend up to $2.3 trillion for businesses, state and city governments — After another 6.6 million jobless claims, here's how to understand the scale of American job decimation.
  5. 2020 latest: Top conservative leaders are concerned the Trump administration isn't addressing the virus' long-term economic impact.
  6. States latest: FEMA has asked governors to decide if they want testing sites to be under state or federal control.
  7. World latest: Lockdowns have led to a decline in murders in some of the world's most violent countries — Boris Johnson is moved out of the ICU but remains in hospital with coronavirus.
  8. In Congress: Senate in stalemate over additional funding for small business relief program.
  9. 1 SNL thing: "Saturday Night Live" will return this weekend in a remotely produced episode.
  10. What should I do? Hydroxychloroquine questions answeredPets, moving and personal healthAnswers about the virus from Axios expertsWhat to know about social distancingQ&A: Minimizing your coronavirus risk.
  11. Other resources: CDC on how to avoid the virus, what to do if you get it.

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Federal court temporarily blocks coronavirus order against some abortions

Gov. Greg Abbott. Photo: Tom Fox-Pool/Getty Images

A federal judge ruled Thursday that clinics in Texas can immediately offer medication abortions — a pregnancy termination method administered by pill — and can also provide the procedure to patients nearing the state's time limits for abortions.

Driving the news: The decision comes after federal appeals court ruled 2-1 on Tuesday in favor of an executive order by Republican Gov. Greg Abbott that prohibits abortions during the coronavirus outbreak.

Go deeperArrowUpdated 8 hours ago - Politics & Policy