Shell’s Move into the EV Industry: The $169 Million Purchase of Volta

Shell, a major oil and gas corporation, recently made a significant investment by acquiring Volta, a leading provider of electric vehicle (EV) charging stations.

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With over 3,000 charging stations in operation across the United States and Europe, the all-cash purchase of Volta cost Shell $169 million.

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This acquisition marks the second time Shell has invested in a charging company, having previously purchased Greenlots in 2019.

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With the addition of Volta’s charging stations, Shell now operates a total of over 57,000 charging stations.

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Shell’s recent acquisition of Volta, a company that operates a network of electric vehicle (EV) charging stations, was made possible by Volta’s financial struggles over the past year.

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This allowed Shell to purchase the network at a favorable price. Currently, the majority of Volta’s charging stations offer free charging for up to half an hour.

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Despite Shell’s significant investment, the company has stated that it has no immediate plans to change this policy.

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Shell, a major player in the fossil fuel industry, is positioning itself to capitalize on the shift away from gas-powered vehicles by aiming to operate half a million EV charging stations by the end of 2025.

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However, it remains to be seen if their policy on free charging will be changed in the future.

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