Shell, one of the world’s largest oil and gas companies, has announced its acquisition of EV charging company Volta.
Volta, founded in 2010, operates a network of EV charging stations in shopping centers and other high-traffic areas across the United States. The company’s charging stations are known for their sleek design and convenient locations and have become a popular choice for EV drivers.
The acquisition of Volta is a significant move for Shell, as it signals the company’s commitment to investing in the growing electric vehicle market. With the increasing demand for EVs, and governments around the world setting ambitious targets for EV adoption, the acquisition will enable Shell to offer EV charging services to its customers and stay ahead in the EV market.
The acquisition is also an indication of Shell’s strategic shift towards cleaner energy solutions. The company has set a goal of becoming a net-zero emissions energy business by 2050, and this acquisition will help it to achieve that goal.
The terms of the deal were not disclosed, but it is expected to be completed in the coming months. Once the acquisition is complete, Volta will continue to operate as a standalone business, but with the support and resources of Shell.
This acquisition is a positive step for both companies and for the EV market as a whole. Volta will benefit from the resources and expertise of a large, established company like Shell, while Shell will be able to offer EV charging services to its customers and stay ahead in the EV market.
Overall, this acquisition is an important move for Shell, as it demonstrates its commitment to investing in the growing electric vehicle market and its goal of becoming a net-zero emissions energy business. It also allows Volta to expand its reach and accelerate its mission of making EV charging more accessible and convenient for all.