Shell has signed an agreement to buy 100% of ubitricity, a leading European provider of on-street charging for electric vehicles (EVs). Subject to regulatory clearance, the deal is expected to be completed later this year.
Founded in Berlin, Germany, ubitricity operates in a number of European countries, and is the largest public EV charging network in the UK with over 2,700 charge points (currently over 13% market share). The company has also established emerging public charging positions in Germany and France and has installed over 1,500 private charge points for fleet customers within Europe.
ubitricity works with local authorities to integrate EV charging into existing street infrastructure such as lamp posts and bollards. ubitricity aims to provide EV charging that is affordable, accessible and convenient, particularly for people who lack a private driveway but want to charge their EV overnight.
This acquisition marks Shell’s expansion into the fast-growing on-street EV charging market and will provide critical competencies, helping Shell to scale its overall EV charging offer. This already includes over 1,000 ultra-fast and fast charging points at approximately 430 Shell retail sites plus worldwide access to over 185,000 third party EV charging points at a range of public locations including forecourts, motorway service stations, and destinations.
Commenting on the acquisition, István Kapitány, Executive Vice President of Shell Global Mobility, said, “Working with local authorities, we want to support the growing number of Shell customers who want to switch to an EV by making it as convenient as possible for them. On-street options such as the lamp post charging offered by ubitricity will be key for those who live and work in cities or have limited access to off-street parking.
Lex Hartman, ubitricity’s CEO, said, “our integration of EV charge points into existing on-street infrastructure makes EV charging easy and accessible for everyone who needs it, where they need it. Particularly in larger cities where there is limited access to off-street parking, this is the solution many people have been waiting for to allow them to transition to EV ownership. Combining this piece of the puzzle with Shell’s existing range of EV charging solutions gives EV drivers access to a full range of charging options, making Shell and ubitricity a perfect match.”
This is the latest move from Shell as it expands its low-carbon transport options for customers, helping them to reduce their carbon footprint. Shell’s own ambition is to become a net-zero emissions energy business by 2050, or sooner, in step with society.
Once the deal is completed, ubitricity is expected to become a wholly owned subsidiary of Shell.