BP announced Wednesday it acquired US electric vehicle charging provider Amply Power in the company’s first major push in the US to establish an electric charging network.
The British oil and gas company plans to double the $5 million in earnings it made in 2019 from its global convenience and mobility businesses by 2030 and deliver returns of 15 per cent to 20 per cent as it plans to grow its global network of EV charging points to more than 70,000 from 11,000 today.
The acquisition of the California-based Amply Power, for an undisclosed sum, will allow the American electric vehicle company to continue to operate independently as part of BP’s global portfolio of businesses.
Richard Bartlett, senior vice president, future mobility and solutions at BP, said the company is aiming to speed up electrification in the fast-growing fleet segment, “which is key to lowering emissions from the transport sector – the largest contributor to greenhouse gas emissions in the US”.
“As we continue to invest in new forms of infrastructure and technology to serve our global fleet customers, Amply Power provides an ideal opportunity to build our EV business in the US,” he said.
Electrification is at the centre of energy-transition plans for Europe’s oil majors, BP and Royal Dutch Shell, which are are under increasing pressure from investors and consumers to stay abreast with the global shift to low-carbon energy.
Both companies have now focused on a growing adoption of electric vehicles by investing in charging networks in the UK and Germany.
British new car registrations for battery electric vehicles, for example, doubled in November to 18.8 per cent of all car registrations in November, from 9.1 per cent a year ago, according to the Society of Motor Manufacturers and Traders.
Founded in 2018, Amply Power has raised about $14 million in funding and provides commercial vehicle operators with charging infrastructure, software and services to charge fleets that operate lorries, transit and school buses, vans and light-duty vehicles.
Vic Shao, founder and chief executive of the electric charging firm, said it aims to accelerate the transition to electric-powered fleets by offering easy and cost-effective for operators to use EVs.
“Now, with support and backing from BP, we can scale our approach to reach new markets while bringing our unique expertise to BP’s broader electric fleet initiatives,” Mr Shao said.
While BP already operates car charging points in the US, the acquisition is a first step into EV fleet charging in the country.
Last week, BP said it plans to set up a large-scale green hydrogen production plant in Teeside in north-east England, generated with wind, water and solar energy to boost Britain's transition from fossil fuels.
The%20specs
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Volvo ES90 Specs
Engine: Electric single motor (96kW), twin motor (106kW) and twin motor performance (106kW)
Power: 333hp, 449hp, 680hp
Torque: 480Nm, 670Nm, 870Nm
On sale: Later in 2025 or early 2026, depending on region
Price: Exact regional pricing TBA
UAE currency: the story behind the money in your pockets
How much do leading UAE’s UK curriculum schools charge for Year 6?
- Nord Anglia International School (Dubai) – Dh85,032
- Kings School Al Barsha (Dubai) – Dh71,905
- Brighton College Abu Dhabi - Dh68,560
- Jumeirah English Speaking School (Dubai) – Dh59,728
- Gems Wellington International School – Dubai Branch – Dh58,488
- The British School Al Khubairat (Abu Dhabi) - Dh54,170
- Dubai English Speaking School – Dh51,269
*Annual tuition fees covering the 2024/2025 academic year
UAE currency: the story behind the money in your pockets
Leaderboard
63 - Mike Lorenzo-Vera (FRA)
64 - Rory McIlroy (NIR)
66 - Jon Rahm (ESP)
67 - Tom Lewis (ENG), Tommy Fleetwood (ENG)
68 - Rafael Cabrera-Bello (ESP), Marcus Kinhult (SWE)
69 - Justin Rose (ENG), Thomas Detry (BEL), Francesco Molinari (ITA), Danny Willett (ENG), Li Haotong (CHN), Matthias Schwab (AUT)
F1 The Movie
Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem
Director: Joseph Kosinski
Rating: 4/5
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
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General%20Classification
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The specs
- Engine: 3.9-litre twin-turbo V8
- Power: 640hp
- Torque: 760nm
- On sale: 2026
- Price: Not announced yet
'The Last Days of Ptolemy Grey'
Rating: 3/5
Directors: Ramin Bahrani, Debbie Allen, Hanelle Culpepper, Guillermo Navarro
Writers: Walter Mosley
Stars: Samuel L Jackson, Dominique Fishback, Walton Goggins
Frankenstein in Baghdad
Ahmed Saadawi
Penguin Press
The Baghdad Clock
Shahad Al Rawi, Oneworld
COMPANY%20PROFILE
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UAE currency: the story behind the money in your pockets
The biog
Favourite food: Tabbouleh, greek salad and sushi
Favourite TV show: That 70s Show
Favourite animal: Ferrets, they are smart, sensitive, playful and loving
Favourite holiday destination: Seychelles, my resolution for 2020 is to visit as many spiritual retreats and animal shelters across the world as I can
Name of first pet: Eddy, a Persian cat that showed up at our home
Favourite dog breed: I love them all - if I had to pick Yorkshire terrier for small dogs and St Bernard's for big
The specs
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
