BP is ramping up its electric vehicle (EV) charging infrastructure in the US, following Tesla’s decision to disband its Supercharger team. BP’s move comes as Tesla plans a slower expansion of its Supercharger network. BP aims to acquire real estate in the northeast, Sun Belt, west coast, and Great Lakes regions to scale its network.
Investment and Strategic Moves
BP’s investment in EV charging is substantial, with a $1 billion commitment by 2030. This includes a recent $100 million order for Tesla’s ultra-fast chargers, capable of delivering 250 kW and compatible with both Tesla’s North American Charging Standard (NACS) and the Combined Charging System (CCS) connectors. These chargers will be integrated into BP Pulse, BP’s EV charging business, enhancing their public and fleet charging capabilities.
The transition of BP into the EV space reflects a broader industry shift among oil majors. Other companies like Shell and Chevron are also investing heavily in EV infrastructure. Shell plans to have 200,000 EV charge points globally by 2030, and Chevron is partnering with Freewire Technologies to install chargers at its gas stations.
Opportunities for Other Charging Networks
Tesla’s restructuring and slower Supercharger expansion present an opportunity for other charging networks such as EVgo and ChargePoint to increase their market presence. Despite these changes, Tesla continues to hold a significant share of the U.S. fast-charging market, with over 12,000 Supercharger stations across North America.
The EV charging landscape is evolving rapidly, with significant investments and strategic moves by both traditional energy companies and dedicated EV charging networks. BP’s aggressive expansion plans highlight the growing importance of reliable and widespread charging infrastructure as the number of EVs on the road continues to increase.
This strategic shift by BP and similar moves by other companies indicate a broader industry acknowledgment of the need to support the growing US EV market with robust and accessible charging solutions. As these networks expand, EV drivers can expect improved charging experiences and greater convenience across the country.