As part of its energy transition strategy, Shell is set to divest around 500 retail locations, including gasoline stations, annually in 2024 and 2025 to prioritize the expansion of EV charging sites and convenience offerings. This move aligns with Shell’s commitment to meeting changing customer needs and increasing its focus on electric vehicle infrastructure.
The company plans to shrink its retail footprint by 2.1% through these closures, aiming to reallocate resources toward boosting its charging business. Shell recognizes the importance of public charging infrastructure and plans to enhance its network to meet the growing demand for EV charging solutions. By transitioning its focus to public charging, Shell aims to cater to the needs of its customers who rely on accessible EV charging facilities.
With a target of increasing its charge points from 54,000 to 200,000 by 2030, Shell is strategically concentrating its efforts on regions like China and Europe, where the EV market is more advanced. These areas show high demand for public EV charging stations, making them key growth markets for Shell’s charging business.
In addition to its existing EV chargers at Shell filling stations and other locations, Shell is expanding its presence in the U.S. The company’s acquisition of Volta charging in 2023 has strengthened its position in the American market, offering one of the largest charging networks in the country. Shell’s Recharge EV charging map shows over 3,700 charging stations in the U.S., indicating the company’s commitment to increasing accessibility to EV charging solutions.
While there may be a recent slowdown in EV demand in the U.S., Shell remains optimistic about the global energy transition and sees great potential in investing in EV infrastructure. By focusing on key markets and leveraging its competitive advantages, including convenience retail offerings, Shell aims to achieve a profitable return on its investment in the charging business.
Industry experts, like Nathan Niese from Boston Consulting Group, recognize the value of retail operators like Shell owning and operating physical sites for EV charging. By capitalizing on existing infrastructure and consumer traffic, operators can create successful business models that cater to the growing demand for electric vehicle charging solutions.
Overall, Shell’s strategic shift towards EV charging infrastructure underscores the company’s commitment to sustainability and innovation in the automotive industry. Through targeted investments and expansion initiatives, Shell is poised to play a significant role in shaping the future of electric mobility.
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