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Share Price Information for BP (BP.)

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Share Price: 496.60
Bid: 496.55
Ask: 496.70
Change: -7.10 (-1.41%)
Spread: 0.15 (0.03%)
Open: 498.00
High: 499.60
Low: 490.65
Prev. Close: 503.70
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BP picks up Ashford site to boost electric charging scope for trucks

Thu, 14th Mar 2024 10:19

(Alliance News) - BP PLC on Thursday stepped up plans to increase its electric charging capacity for heavy goods vehicles by buying one of the largest truck stops in Europe.

The London-based oil and gas major said BP Pulse, it electric vehicle charging brand, has acquired the freehold of Ashford International Truckstop in Kent as part of its strategic drive to create a Europe-wide network of electric truck charging infrastructure.

BP noted the truck stop is close to Dover, the UK’s busiest ferry port, and LeShuttle Freight via the Eurotunnel terminal in Folkestone.

It pointed out around 3.5 million HGVs travel across the channel via the port of Dover and Eurotunnel each year.

BP said the site has the capacity to host approximately 20 mega-watt chargers, 10 400 kilowatt and 125 100 kW chargers.

Stefan von Dobschuetz, general manager BP Pulse Europe said: "For fleet operators to consider going electric, they must be confident that the infrastructure is in place to support them. That is why we are thrilled to have secured the land to a crucial site near Dover as we strive to meet the evolving needs of HGV operators transitioning to EVs."

The first mega-watt chargers are expected to be in place from 2026, BP said.

Ashford International Truckstop is currently owned by the GSE Group. As part of the agreement, BP will lease back the site to Ashford International Truckstop Ltd, part of GSE, to operate the existing site facilities. BP will operate and manage the EV charging infrastructure.

In January 2023, BP launched Europe’s first truck charging corridor along a 600 kilometre stretch of the Rhine-Alpine corridor across Germany.

Shares in BP rose 0.7% to 488.35 pence each in London on Thursday.

By Jeremy Cutler, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2024 Alliance News Ltd. All Rights Reserved.

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