Electric vehicle charging appears to be one of the factors behind energy company BP’s recently announced proposed purchase of TravelCenters of America.
The acquisition "supports delivery of BP’s convenience and EV charging growth engine target of more than $1.5bn EBITDA in 2025 and aim for more than $4bn in 2030," the oil giant said in the release. In a tweet, BP also touted it as helping "open doors to national on the go EV charging."BP has said its goal is to grow its global EV footprint by 2030 to over 100,000 charging points, about 90% of which it wants to be "rapid" or "ultra-fast.
BP logo and stock graph are seen through magnifier displayed in this illustration taken, September 4 2022. REUTERS/Dado Ruvic/Illustration Meanwhile, TravelCenters of America recently said that over a five-year time span, it is seeking to put in place approximately 1,000 chargers. It is buying the EV chargers for 200 locations as part of an agreement with Electrify America that TravelCenters unveiled in January.
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