Shell will acquire the owner of the UK's largest public electric vehicle charging network, ubitricity, for an undisclosed amount as the energy giant aims to become a net-zero emissions business by 2050 or sooner.
The deal for the company, that has over 2,700 on-street charge points in the country, is expected to be completed later this year, the company said in a statement.
Electric-vehicle sales are set to continue to soar in 2021, industry analysts have said, as more models are brought to the market and governments push for use of cleaner energy to achieve climate goals.
The European Commission has already outlined plans to further tighten car CO2 limits as part of its proposal for a tougher 2030 EU climate goal.
"This acquisition marks Shell's expansion into the fast-growing on-street EV charging market and will provide critical competencies, helping Shell to scale its overall EV charging offer," Shell said in the statement.
