Shell buys electric car charging company

Oil company Shell has signed an agreement to purchase a of Europe's largest electric car charging companies, Ubitricity. The deal accelerates Shell's shift to low-carbon transportation. Valley remember that the company intends to cancel its net emissions by 2050 or earlier That.

Shell expects the purchase agreement to be closed by the end of the year. The financial terms of the transaction were not disclosed. According to the company, the business marks its expansion into the electric vehicle charging market and assists in increasing the service offer.

According to Shell, German company Ubitricity has a market share of 13% in the UK, around 2,700 recharging points, plus more than 1,500 recharging points across Germany and France.

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