Oil companies are making more inroads in electric-vehicle charging infrastructure as Shell USA recently closed on its acquisition of charging network company Volta.
"The shift to e-mobility is unstoppable, and Shell recognizes Volta's industry-leading dual charging and media model delivers a public charging offering that is affordable, reliable, and accessible,” said Volta interim CEO Vince Cubbage when the all-cash, $169 million transaction was initially announced in January.
The acquisition adds more than 3,000 charging points in 31 states and territories, along with their advertising screens, to Shell’s Recharge network, which Shell aims to build to more than 500,000 in just two years, according to Car and Driver.
As many states and the federal government push for more EV adoption among consumers in order to cut environmentally harmful emissions, charging infrastructure will be a key driver. Range anxiety, or consumers concern about not having access to enough chargers for their driving needs, has been a major roadblock in consumers switching to electric from internal-combustion-engine models.
EV market leader Tesla currently has the largest EV charging network in the country.