BP purchased TravelCenters of America for $1.3 Billion in cash for approximately 280 fuel, convenience, and restaurant centers in the United States.
This deal expands BP's network of EV charging stations as the centers have been rapidly adding EV charging stations. TravelCenters of American has been expanding its network in part through a partnership with Electrify America LLC aimed at rolling out another 1,000 fast chargers.
"BP currently has around 22,000 EV-charging points globally, and hopes to have more than 100,000 by 2030."
All of this activity is being driven through federal funding, grants, and tax incentives and BP is waisting no time taking advantage of what it sees as the future. Charging takes longer than filling up your tank and BP is smartly betting those waiting will be shopping and eating at these destination centers.
The deal is still subject to shareholder approval. To learn more about our EV Charging Station solutions, leave us a comment below or email us at news@ph1c.com
