bp plans to invest $1B in US EV charging points by 2030

British oil and gas company bp announced plans on Wednesday to invest $1 billion by 2030 into electric vehicle (EV) charge points across the US as part of its goal to expand the company’s portfolio in EV charging.

The company currently offers 22,000 EV charge points worldwide, with plans to increase that number to more than 100,000 globally by 2030.

As part of the company’s plans, bp and Hertz Corporation, the American car rental company, will establish fast charging infrastructure in major cities, such as Atlanta, Austin, Boston, Chicago, Denver, Houston, Miami, New York, Orlando, Phoenix, San Francisco and Washington DC.

bp will invest in a number of fast-charging installations called ‘gigahubs,’ which are large-scale fast charging hubs, located in high-demand locations such as airports.

The hubs will serve rideshare and taxi drivers, car rental customers and the general public, bp said.

‘We’re bringing more, fast-charging options to more Americans for faster EV adoption,’ said Dave Lawler, chairman and president of bp America.

The latest plan builds on Hertz and bp’s memorandum of understanding signed last year to develop a network of EV charging stations where Hertz is active.

‘As Hertz builds the largest EV rental fleet in North America, it is critical that our millions of customers, including leisure and business travelers, rideshare drivers, and corporate clients, have access to a national network of reliable, fast chargers,’ Hertz chair and CEO Stephen Scherr said.

Hertz is assembling a diverse fleet of EVs at a range of price points through large-scale purchases from Tesla, Polestar and GM with the objective of having one-quarter of its fleet be electric by the end of 2024.

• electric vehicle (EV)