BP says its EV charging stations about as profitable as conventional gas stations [View all]
But the company does have an ambitious target for electric vehicle charging points, which already number 13,000. BP plans to grow this number to 100,000. And it turns out, they’re about as profitable as conventional gas stations.
That’s according to BP CEO Bernard Looney on the company’s conference call presenting fourth-quarter results.
“We’re at the stage where the margins are equivalent. We probably think that they can get better,” Looney said, according to a transcript from FactSet. He didn’t quantify what those margins were.
He noted the utilization rate at its Hammersmith charging station in West London is 67%. “Many of the assumptions that people have in their plans are around single-digit utilization rates,” said Looney.
https://www.msn.com/en-us/money/companies/bp-says-its-ev-charging-stations-about-as-profitable-as-conventional-gas-stations/ar-AATC095
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