BP has announced that it has agreed to buy Chargemaster, with the oil giant set to acquire the charge point manufacturer and the UK’s largest public EV charging network.
Having been set up in 2008, Chargemaster runs the POLAR network, plus the Charge Your Car network, which in turn operates the ChargePlace Scotland infrastructure. As such, the company manages more than 6,500 charge points, and was one of the fastest growing rapid networks last year too.
Rapid charging has already been recognised as a key priority for the company – which will be re-branded as BP Chargemaster. Roll-out of 150 kW ultra-rapid EV charge points will be a focus, with units expected to be going in over the course of the next 12 months.
The benefit for EV drivers with the new deal is that rapid units are set to be installed at BP forecourts, expanding the public network into an area that has barely been touched. There are more than 1,200 BP service stations across the UK.
David Martell, Chief Executive of Chargemaster said: “The acquisition of Chargemaster by BP marks a true milestone in the move towards low carbon motoring in the UK.
“I am truly excited to lead the Chargemaster team into a new era backed by the strength and scale of BP, which will help us maintain our market-leading position and grow the national POLAR charging network to support the large range of exciting new electric vehicles that are coming to market in the next couple of years.”
Tufan Erginbilgic, chief executive, BP Downstream, said: “Bringing together the UK’s leading fuel retailer and its largest charging company, BP Chargemaster will deliver a truly differentiated offer for the country’s growing number of electric vehicle owners.”
Upon completion of the transaction, Chargemaster employees will continue to be employed by BP Chargemaster or its subsidiaries. BP Chargemaster will operate as a wholly-owned BP entity.