Vertical integration: BP buys Chargemaster

Expect a lot more of this as petroleum companies adjust their sights to the rapid growth of electric vehicles. BP has acquired Chargemaster which is the UK's largest car charging firm which operates the POLAR charging network across the UK. Consider the commercial drivers behind this decision. As demand for petrol and diesel cars falls away, BP will need to fully embrace the electric vehicle and the associated infrastructure needed to maintain the profitability of their retail outlets. Consider for example the opportunities for car valeting and coffee shops in the 10-30 minutes that might take to fully charge a vehicle operating on the motorway network.

150Kw (100miles in 10min) chargers are to be fitted at BP Filling Stations.

In a similar move, Shell bought New Motion, a rival charging company in 2017.