Shell’s venture with carmakers to boost EV charging industry in Europe
Date: 2017-11-27   Author: Satarupa De  Category: #industry

Shell’s venture with carmakers to boost EV charging industry in Europe

Royal Dutch Shell has apparently extended a hand of interest to partner with some of the world’s largest automakers in a bid to expand its electric vehicle charging business in Europe. The move comes on the heels of the fact that the rising demand for EVs would not augur well for the core business of the Netherland headquartered oil & gas conglomerate. Reportedly, Shell is planning to deploy high-speed charging points for electric vehicles in Europe’s highways spanning across 10 countries. The Anglo-Dutch oil Group allegedly, would tie up with IONITY, the charging network operator - a Munich based joint venture project between Daimler, BMW, Volkswagen, and Ford, to provide high powered EV chargers to 80 of its biggest roadside fuel stations.

As per reports, the agreement follows Shell’s latest string of initiations with regards to charging technology, amidst the long-term threat posed by the rising demand for cleaner oil. Last month, the company acquired the Dutch-based NewMotion, which is reported to be Europe’s largest charging network points operator, with a portfolio of almost 80000 sites. Speaking of the latest Shell-IONITY agreement, Shell is planning to offer ultra-fast chargers that are capable of topping up an EV in just five to eight minutes, which is almost thrice the speed of present EV charger, cite sources.

For the uninitiated, over the recent years, it has been observed that Shell is making proactive efforts to diversify its business portfolio beyond fossil fuels. While a larger fraction of the oil executives still believe that it would require a couple of decades more for EVs to completely go mainstream, Shell’s renewed strategy, as claimed by experts, depicts that some of the market giants have already started to reassess their age-old business models amidst the transforming energy landscape.

Following this pact, Shell would be a part of IONITY’s plan of building a European network of 400 fast charging stations by 2020, cite sources.



About Author


Satarupa De

Satarupa De

Satarupa currently works as a content writer at AlgosOnline. An electrical engineer by qualification, she worked for two years in the electrical domain before switching her professional genre. Following her childhood passion, she opted for a career in writing and now ...

Read More

More from Satarupa


Post Recommendents

Global Automotive Lighting Market Detail Analysis focusing on Key Players like General Electric Company, HELLA GmbH & Co. KGaA, Hyundai MOBIS, Koito Manufacturing Co., Ltd, Magneti Marelli S.p.A & more
Author: Partha Ray

MarketStudyReport.com offers 2018 report on global Automotive Lighting market that evaluates industry growth trends through historical data and estimates future prospects based on comprehensive research. The report extensively provides the market ...


Hybrid Solar Wind Energy Storage Market 2024 Key Information by Top Key Players Siemens Gamesa, UNITRON, Grupo Dragon, ReGen Powertech, General Electric, Goldwind, Suzlon
Author: Partha Ray

Market Study Report adds global Hybrid Solar Wind Energy Storage market report that gives meticulous investigation of current scenario of the market size, share, demand, growth, trends, companies active in the industry and forecasts for the coming...


East Africa Flat Glass Market 2018 to 2024 By Product - Laminated, Tempered, Basic Float, Insulating
Author: Rahul Varpe

According to estimates the East Africa flat glass market size from building and construction application during 2017 was valued at $115 million. Recently at East Africa BUILD, the East Africa International building mat...