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Shell to buy electric vehicle charging providers

12 Octobre 2017

Royal Dutch Shell PLC (RDSB.LN) said Thursday that it is buying electric-vehicle charging provider NewMotion for an undisclosed sum.

"Under the terms of the deal, NewMotion will continue business as usual as a wholly owned subsidiary of Shell", the oil and gas supermajor said in its statement, which did not disclose the price of the acquisition.

NewMotion operates more than 30K electric charging points in the Netherlands, Germany, France and the United Kingdom, and provides access to a network of 50K-plus public charge points across 25 European countries, serving more than 100K registered charge cards.

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"Today's announcement is an early step towards ensuring customers can access a range of refuelling choices over the coming decades, as new technologies evolve to co-exist with traditional transport fuels", said Shell's vice president for new fuels, Matthew Tipper.

"This move provides customers the flexibility to charge their electric vehicles at home, work and on the go".

Analysts at Bloomberg New Energy Finance predicted this year that one-third of automobiles in the world will be electric by 2040, a shift that will cut demand for oil production by about 8 million barrels a day.

Shell to buy electric vehicle charging providers