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.