BP says its EV chargers will be more profitable than pumps — here’s how

Oil giants like BP and Shell have been reluctant to welcome the transition to electric cars, for fear of losing money and market share. But now things seem to be changing and it looks like investing in EV infrastructure could bring more money than selling fuel. 

BP’s head of customers and products Emma Delaney told Reuters that while the company’s charging division isn’t expected to be profitable before 2025, on a margin level (money in, money out) it’s nearing the levels of gas filling. 

As per Delaney,

If I think about a tank of fuel versus a fast charge, we are nearing a place where the business fundamentals on the fast charge are better than they are on the fuel.

To maximize this profitability, BP intends to expand its charging network from 11,000 stations to 70,000 stations by 2030, and 500,000 stations by 2050 — all of which will be fast chargers capable of reaching speeds of 50-150kW.