TOT TOTAL SE

   By Olivia Bugault 
 

Total SE said Tuesday that it is acquiring electric-vehicle charging network Source London from Bollore SE.

"With this transaction, Total is taking over the management and operation of Source London, the largest electric vehicle charging network citywide, which includes more than 1,600 on-street charge points," the French oil-and-gas company said.

Total said it expects the transaction to close by the end of the year.

The London charging network will be powered with electricity that will be 100% from renewable sources and supplied by its subsidiary Total Gas & Power Ltd, it said.

The Source London network currently represents more than half of the charge points in operation in London and will help Total meet its ambition to operate more than 150,000 electric-vehicle charge points by 2025, it said.

Write to Olivia Bugault at olivia.bugault@wsj.com

(END) Dow Jones Newswires

September 29, 2020 03:05 ET (07:05 GMT)

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