Shell buys EV charging company NewMotion
Shell has advanced its interests in the electric vehicle (EV) charging market by acquiring Dutch EV charging company NewMotion, which has 30,000 charging points across the Netherlands, Germany, France and the UK. Other oil companies including Statoil, Enel and Engie have also sought to invest in EV charging, in an attempt to secure the future of their retail operations.

Associated Press

LONDON (AP) — Oil company Shell has signed an agreement to buy electric vehicle charging firm NewMotion. It did not disclose terms.

The company, which will become a wholly owned subsidiary of Royal Dutch Shell, operates more than 30,000 private electric charge points for homes and businesses in the Netherlands, Germany, France and the U.K.

Shell's Vice President for New Fuels, Matthew Tipper, says Thursday that the deal will give customers "flexibility to charge their electric vehicles at home, work and on the go."

Shell has insisted it is planning for the day when demand for oil starts to fade. CEO Ben van Beurden has promised to look at "very aggressive scenarios" to remain competitive in a world that gets more of its energy from renewable sources and less from crude oil.

Read more:

Think you pay too much in taxes? 10 most and least tax-friendly states

As Napa fires rage, wineries face singed grapes, displaced workers and costs of rebuilding