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BP PLC on Friday said its BP Pulse business plans to invest £1 billion in electric vehicle charging in the UK over the next 10 years.
The London-based oil and gas company said BP Pulse, its electric vehicle charging business, intends to make the investment to meet the UK's growing demand for electric vehicle charging.
The electric vehicle arm is set to roughly triple its number of charging points by 2030.
BP said that the investment will also allow BP Pulse to deliver more chargers in key locations, expand its fleet products and services, and launch new home charge digital products and services.
‘This £1 billion investment is vital to provide the charging infrastructure the UK needs. We're investing to build a world-class network. This investment allows us to deliver more. More high-speed charging in dedicated hubs and on existing fuel and convenience sites. More home charging services. And crucial enhancements to our digital technology that will make charging fast, easy and reliable,’ Richard Bartlett, senior vice president of BP Pulse said.
Shares in BP were down 1.5% at 383.20 pence each on Friday morning in London.
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