8 Dec 21

bp dives into U.S. EV fleet charging market, acquires AMPLY Power

Energy company bp has taken its first major step into electrification in the US by acquiring AMPLY Power, an electric vehicle (EV) charging and energy management provider for fleets that operate trucks, vans, light-duty vehicles, school buses and other transit. 

The investment is aligned with bp’s plan to scale-up next generation mobility solutions, providing the fastest, most reliable and convenient network of charging and digital solutions for customers, including individual drivers and fleet operators, the company said in a release.
By 2030, bp aims to nearly double earnings from its global convenience and mobility businesses which was $5 billion in 2019 and reporting 15-20% returns. The company also intends to grow its global network of EV charging points from around 11,000 today to more than 70,000 by 2030.

According to senior VP of future mobility and solutions Richard Bartlett, bp is aiming to speed up electrification in the fast-growing fleet segment, which is key to lowering emissions from the transport sector in the US.

“As we continue to invest in new forms of infrastructure and technology to serve our global fleet customers, AMPLY Power provides an ideal opportunity to build our EV business in the US,” says Mr. Bartlett.

Authored by: Daniel Bland