Leading global oil and natural gas producer, Royal Dutch Shell, will acquire New Motion, the largest European operator of electric vehicle charging stations, reports The Hill.
Shell stated that the decision to purchase the Dutch operator, which has built over 30,000 private and 50,000 public electric charging stations across Europe, was driven by the desire to enhance technology at Shell’s pumps.
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The acquisition will enable electric vehicle charging at 45,000 Shell gas stations worldwide, and Shell indicated that this move will allow new technologies to coexist with traditional fuels.
>>>Shell Acquires Largest European Operator of Electric Vehicle Charging Stations
Demand for electric vehicles is expected to rise dramatically in the coming decades, posing a threat to fossil fuel manufacturers. Bloomberg analysts have predicted that one-third of all cars in the world will be electric by 2040, which will reduce oil demand by about 8 million barrels per day.
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