BP EV Charging News
Lots of news from BP regarding EV Charging. Hertz and TravelCenters are the main news items. Convenience Stores reported new budgeting in relation to Hertz. With TravelCenters we noted Yahoo Finance post on the acquisition.
In Brief Summary Hertz
plans to invest $1 billion by 2023 on electric vehicle (EV) charge points across the United States.
- the cornerstone of the investment includes the partnership between Hertz and BP to bring fast charging infrastructure to Hertz locations in major cities, including Atlanta, Austin, Boston, Chicago, Denver, Houston, Miami, New York City, Orlando, Phoenix, San Francisco, and Washington, D.C.
- EV charging is one of BP’s five strategic transition growth engines and the company expects to grow investment through this decade significantly. The other transition growth engines include bioenergy, hydrogen, convenience and renewables, and power
- Hertz is assembling a diverse EV fleet at various price points through large-scale purchases from Tesla, Polestar and General Motors. Its objective is for one-quarter of its fleet to be electric by 2024.
In Brief Summary TravelCenters
- Adds a network of around 280 travel centers, strategically-located on major highways across US
- Brings growth opportunities for 4 of bp’s 5 transition growth engines including convenience, EV charging, biofuels/ renewable natural gas (RNG) and, later, hydrogen.
- $1.3 billion in cash