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BP Eyes Acquisition of Tesla’s Supercharger Network

Daniel Kim Views  

AFP Yonhap News

British Petroleum (BP), Britain’s largest and the world’s second-largest oil refiner, has expressed its intent to acquire Tesla’s electric vehicle charging station network, the Supercharger division.

According to Bloomberg on the 9th (local time), BP announced that it is currently negotiating with Tesla to purchase its charging station network. Last week, Tesla laid off 500 employees, including Rebecca Tinucci, the executive in charge of the Supercharger infrastructure, citing cost reduction measures. Tesla also announced that it would slow down the expansion of its supercharger.

Against this backdrop, BP said in a statement, “We are aggressively seeking to acquire real estate to expand our network, with greater focus following Tesla’s recent announcement.” BP Plus, BP’s charging business division, also mentioned plans to secure available land in cooperation with property owners who had potentially signed Supercharger development contracts with Tesla. This indicates BP’s intent to expand the electric vehicle charging station business on behalf of Tesla.

Despite the enormous cost of infrastructure investment, the electric vehicle charging station business can generate steady profits. BP announced in February last year that it planned to invest $1 billion in electric vehicle charging stations across the United States by 2030, with $500 million of that earmarked for the construction of 3,000 charging stations within the next 2-3 years. Additionally, he was so interested in the electric vehicle charging network that he ordered a $100 million Tesla fast charger in October.

Daniel Kim
content@viewusglobal.com

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