Shell has signed an agreement to buy 100% of leading European provider of on-street charging for electric vehicles ubitricity. Founded in Berlin in Germany, ubitricity operates in a number of European countries, and is the largest public EV charging network in the UK with over 2,700 charge points, currently over 13% market share. The company has also established emerging public charging positions in Germany and France and has installed over 1,500 private charge points for fleet customers within Europe2.
ubitricity works with local authorities to integrate EV charging into existing street infrastructure such as lamp posts and bollards. The result is EV charging that is affordable, accessible and convenient for anyone who wants to charge their EV while it is parked on the street. This solution is particularly useful for people who lack a private driveway but want to charge their EV overnight.
This acquisition marks Shell’s expansion into the fast-growing on-street EV charging market and will provide critical competencies, helping Shell to scale its overall EV charging offer. This already includes over 1,000 ultra-fast and fast charging points at approximately 430 Shell retail sites plus worldwide access to over 185,000 third party EV charging points3 at a range of public locations including forecourts, motorway service stations, and destinations.
Once the deal is completed, ubitricity is expected to become a wholly owned subsidiary of Shell.