BP to acquire UK’s largest EV charging company

In an important step to scale-up and deploy a fast and ultra-fast charging network on BP’s UK forecourts the company is to acquire Chargemaster, the UK’s largest EV charging company. Once the deal is complete, Chargemaster will be rebranded BP Chargemaster.

Chargemaster operates the UK’s largest public network of EV charging points, with over 6,500 across the country. It also designs, builds, sells and maintains EV charging units for a wide range of locations, including for home charging. In addition, it has supplied over 50,000 charging points across Europe.

Tufan Erginbilgic, Chief Executive, BP Downstream, said: ‘Bringing together the UK’s leading fuel retailer and its largest charging company, BP Chargemaster will deliver a truly differentiated offer for the country’s growing number of electric vehicle owners. At BP, we believe that fast and convenient charging is critical to support the successful adoption of electric vehicles.’

The number of EVs on the road is anticipated to increase rapidly in coming decades. By 2040 BP estimates that there will be 12mn EVs on UK roads, up from around 135,000 in 2017. The development of convenient and innovative EV charging technologies and networks is a key part of BP’s strategy to advance the energy transition.

A key priority for BP Chargemaster will be the rollout of ultra-fast charging infrastructure, including 150 kW rapid chargers capable of delivering 100 miles of range in just 10 minutes.

Founded in 2008, Chargemaster runs POLAR, the largest public charging network in the UK. The POLAR network now includes over 6,500 public charging points. The company has over 40,000 POLAR customers, of which an increasing number choose to pay a monthly subscription and the remainder access on a pay-as-you-go basis. Chargemaster is also a leading supplier of home charging points across the UK and has strong links with car manufacturers, as the charging partner for a number of car brands in the UK, including BMW, Mercedes-Benz, Mini, Mitsubishi Motors, Nissan, Renault, Smart and Toyota. 

David Martell, Chief Executive of Chargemaster said: ‘The acquisition of Chargemaster by BP marks a true milestone in the move towards low carbon motoring in the UK.’

Photo: BP