Energy company BP has announced that it has entered into an agreement to purchase Chargemaster, the UKâ€™s largest electric vehicle (EV) charging company.
Chargemaster operates the UKâ€™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.
Tufan Erginbilgic, chief executive, BP Downstream, said: â€œBringing together the UKâ€™s leading fuel retailer and its largest charging company, BP Chargemaster will deliver a truly differentiated offer for the countryâ€™s growing number of electric vehicle owners.
â€œAt BP we believe that fast and convenient charging is critical to support the successful adoption of electric vehicles. Combining BPâ€™s and Chargemasterâ€™s complementary expertise, experience and assets is an important step towards offering fast and ultra-fast charging at BP sites across the UK and to BP becoming the leading provider of energy to low carbon vehicles, on the road or at home.â€
BP has claimed that in order to accelerate the adoption of EVs, customers will require convenient access to fast and ultra-fast charging. BPâ€™s UK retail network is well positioned to provide this access with over 1,200 service stations across the country.
A key priority for BP Chargemaster will be the rollout of ultra-fast charging infrastructure, including 150kW rapid chargers capable of delivering 100 miles of range in just 10 minutes. BP customers in the UK can expect to access BP Chargemaster chargers on forecourts over the next 12 months, the company claims.
Founded in 2008, Chargemaster runs POLAR, the largest public charging network in the UK with a reported 40,000 customers. Chargemaster also supplies home charging points.
David Martell, Chief Executive of Chargemaster said â€œThe acquisition of Chargemaster by BP marks a true milestone in the move towards low carbon motoring in the UK. I am truly excited to lead the Chargemaster team into a new era backed by the strength and scale of BP, which will help us maintain our market-leading position and grow the national POLAR charging network to support the large range of exciting new electric vehicles that are coming to market in the next couple of years.â€
Upon completion of the transaction, Chargemaster employees will continue to be employed by BP Chargemaster or its subsidiaries. BP Chargemaster will operate as a wholly-owned BP entity.