Log in
Forgot password ?
Become a member for free
Sign up
Sign up
Dynamic quotes 

4-Traders Homepage  >  Equities  >  London Stock Exchange  >  BP    BP.   GB0007980591

BP (BP.)
Mes dernières consult.
Most popular
News SummaryMost relevantAll newsSector newsTweets

BP : Shell buys NewMotion charging network in first electric vehicle deal

share with twitter share with LinkedIn share with facebook
share via e-mail
10/12/2017 | 04:09pm CEST
Staff members work at the booth of Royal Dutch Shell at Gastech, the world's biggest expo for the gas industry, in Chiba

Royal Dutch Shell has agreed to buy Dutch-based NewMotion, the owner of one of Europe's largest electric vehicle charging networks, marking the company's first deal in electric mobility as demand for cleaner vehicles is expected to soar.

Shell said NewMotion, which manages over 30,000 charging points for electric vehicles in Western Europe and offers access to thousands more, will operate in parallel to Shell's programme of rolling out fast charging points at its forecourts.

"They're complementary offers. One is fast charging on the go on the forecourt and the other is a slightly slower rate of charge at the workplace or at home. At this stage there are no plans to integrate the two," Shell's vice-president for new fuels, Matthew Tipper, told journalists.

Shell is installing electric vehicle charging points at retail stations in Britain, the Netherlands, Norway and the Philippines.

Demand for electric vehicles is expected to rise significantly in coming decades and Morgan Stanley estimates that 1-3 million public charging points could be needed in Western Europe by 2030. Currently, there are fewer than 100,000.

Shell expects around a quarter of the world's car fleet to be electric by 2040.

Oil companies are growing increasingly aware of the potential threat to parts of their downstream business from the electrification of transport.

Rival BP (>> BP) said in August it was in talks with electric vehicle makers about partnering to offer charging stations at its retail sites.

NewMotion, founded in 2009, has more than 100,000 registered charge card users in Europe and offers access to its own charging points as well as another 50,000 partner locations.

In September, NewMotion signed a deal with Total (>> Total) to allow the French oil company's customers access to its electric vehicle charging network.

Shell and NewMotion declined to comment on the value of Thursday's takeover.

NewMotion had a net turnover of 12.9 million euros (11.57 million pounds) and made a net loss of 3.9 million euros in 2016, according to its financial statement filed with the Dutch chamber of commerce.

(Additional reporting by Bart Meijer; Editing by Dale Hudson and Jason Neely)

By Karolin Schaps

Stocks treated in this article : Total, BP
share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news on BP
12:31p BP : Saudi Aramco CEO says listing on track for 2018 - CNBC
09:18a U.S. Midwest oil refiners boost output, cut region's dependence on Gulf Coast
08:48aDJBig Oil Looks for Bumper Profits -- WSJ
10/21DJBig Oil Set for Bumper Profits Despite Cheap Crude
10/21 BP : Benny Goodman Park to get cleanup next spring
10/21 BP : launches safety reset after 5 major leaks at North Slope operations this ye..
10/20 BP : Chairman set to quit BP
10/20 BP : Introducing Greener Service Stations for BP
10/20DJBP : Chairman Plans to Retire -- WSJ
10/20 BP : Chairman who presided over oil disaster retires
More news
News from SeekingAlpha
01:46a MLPS : Taking The Under
10/22 THE NEST EGG PORTFOLIO : Considering BP As A Dividend Powerhouse
10/20 REPORT : BP suffered string of accidents at Alaska operations this year
10/20 3 Stocks For A 'Priceless Recovery' In Crude Oil
10/19 BP chairman Svanberg to retire next year
Financials ($)
Sales 2017 230 B
EBIT 2017 10 803 M
Net income 2017 5 447 M
Debt 2017 38 426 M
Yield 2017 6,04%
P/E ratio 2017 22,87
P/E ratio 2018 17,05
EV / Sales 2017 0,73x
EV / Sales 2018 0,69x
Capitalization 128 B
Chart BP
Duration : Period :
BP Technical Analysis Chart | BP. | GB0007980591 | 4-Traders
Technical analysis trends BP
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus HOLD
Number of Analysts 27
Average target price 6,54 $
Spread / Average Target 0,83%
EPS Revisions
Robert W. Dudley Group Chief Executive Officer & Executive Director
Carl-Henric Svanberg Chairman
Brian Gilvary Group Chief Financial Officer & Executive Director
Paul Milton Anderson Independent Non-Executive Director
Ian Edward Lamert Davis Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
BP-3.47%128 190
SUNCOR ENERGY INC.-5.14%55 204