BP To Inject £1B In UK Electric Vehicle Charging Infrastructure

BP plc BP has announced a £1 billion investment for the U.K. electric vehicle (EV) charging infrastructure over ten (10) years.
The investment, which will see a tripling of charging points by 2030, was unveiled during an official visit by Transport Secretary Grant Shapps to BP pulse's UK headquarters in Milton Keynes.
It coincides with a new UK Government electric vehicle infrastructure strategy to install 300,000 public chargers "as a minimum" by 2030.
BP said it would accelerate the roll-out of 300kW and 150kW ultra-fast charging points that can provide EV drivers up to 100 miles of range in around 10 minutes of charging, depending on the electric model.
The Company says that 50% of BP pulse's network worldwide and 30% of its UK network is now made up of rapid or ultra-fast charging.
Shapps acknowledged that "convenient, reliable, and affordable charging" is key to the green revolution. This investment will make it easier for drivers up and down the country to go electric.
BP Pulse plans to help electrify the UK's fleet vehicles and intends to help accelerate the roll-out of EV charging solutions to businesses. It is working with Royal Mail, Uber Technologies Inc UBER, and emergency services in London and Scotland.
Price Action: BP shares are down 1.46% at $30.29 during the premarket session on the last check Friday.
Photo via Wikimedia Commons