Royal Dutch Shell to Buy EV Chargers Provider Ubitricity
By Jaime Llinares Taboada
Royal Dutch Shell PLC said Monday that it has agreed to acquire
Ubitricity, the largest public electric-vehicle charging network in
The Anglo-Dutch oil major said the acquisition marks its
expansion into the fast-growing on-street EV charging market and
will provide competencies to help it scale its charging offer.
Shell is aiming to become a net-zero emissions energy company by
2050 or sooner.
Ubitricity, founded in Berlin, has a 13% market share in the
U.K. as well as established public charging positions in Germany
and France, Shell said.
Shell said the deal is expected to be completed later in 2021
but didn't disclose the purchase price.
Write to Jaime Llinares Taboada at firstname.lastname@example.org;
(END) Dow Jones Newswires
January 25, 2021 05:57 ET (10:57 GMT)
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