BP says its electric car chargers aren’t profitable yet
BP Plc isn’t yet turning a profit on its car-charging stations, but the U.K. oil giant expects that to change as more electric vehicles come onto market.
“I would not say we are breaking profits in all spaces there," Christian Girardeau, electrification director at BP, said Tuesday at the BNEF Summit in San Francisco. But he added the company has been able to make money through energy delivery through its EV partnerships. “Just on the energy side," he said, “we are more in the black than in the red."
Also check these Cars
64.8 kWh
418 Km
1497 cc
Multiple
Also Read : Tesla apologises to China's State Grid for video blaming it for EV damage
The company has so far installed close to 10,000 chargers and has set a goal of 70,000 stations by 2030, with a big expansion effort in Europe and China, Girardeu said. It’s adding electric car charging to a suite of energy services it provides as the oil major seeks to move beyond its traditional oil and gas business.
In 2018, BP bought Chargemaster, the U.K.’s largest electric vehicle charging company at the time. The oil company has also formed a joint venture with Didi Chuxing to build out charging infrastructure in China.
