Shell has acquired the electric vehicle charging company NewMotion, the owner of one of the largest networks of electric vehicles charging stations in Europe with 50,000 electric charge points in 25 European countries, of which in particular the Netherlands, France, Germany and the UK. Shell did not disclose the terms of the deal but NewMotion will be integrated as a wholly owned subsidiary of Shell.
Both companies will work together to maximise potential synergies. Recently, Shell has already begun to install electric vehicles charge points at its retail filling stations in the UK, the Netherlands, Norway and the Philippines. The company believes that around 25% of the world’s car fleet will be electric by 2040.
New Motion has been active since 2009 and has approximatively 100,000 registered charge card users in Europe. In 2016, the company was not profitable, with a €4m euro loss over a turnover of €13m due to the important investments the company has been implementing to develop its network.