Shell is buying the European electric vehicle charging company Ubitricity, the companies announced this morning without disclosing the deal's size.
Why it matters: Ubitricity says it is the largest charging public charging network in the UK, with over 2,700 charge points, and operates in several cities.
- It's the latest sign of how European oil giants are moving into climate-friendly areas like renewables and other power services, though fossil fuels remain their dominant business lines.
The big picture: Shell has made multiple moves in the EV charging space, in recent years acquiring NewMotion, which is also in Europe, and the U.S. company Greenlots.
