America, charge your batteries!

While rivals bp and Total are also making moves into EV charging, Shell is leading a niche segment we’ll call oil companies that have half a clue. The Anglo-Dutch oil major has made several acquisitions, including a significant one in the U.S. — in 2019, it bought Greenlots, a Los Angeles-based startup that will soon be rebranded as Shell Recharge Solutions. Globally, Shell installs an EV charge point every 20 minutes, it says, and it’s aiming to operate 500,000 of them by 2025 and 2.5 million by 2030. Rival bp, which recently said its fast chargers are on the cusp of becoming more profitable than filling up a gas-powered car in Britain and Europe, has also taken its first major step into the U.S. market. Late last year, it acquired Amply Power, a specialist in EV charging and management for fleets that operate trucks, transit and school buses, vans and light-duty vehicles.

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