{"id":14091,"date":"2022-01-28T09:04:30","date_gmt":"2022-01-28T14:04:30","guid":{"rendered":"http:\/\/autosector.com\/?p=14091"},"modified":"2022-01-28T09:04:30","modified_gmt":"2022-01-28T14:04:30","slug":"ev-charging-profits-vs-gas","status":"publish","type":"post","link":"http:\/\/autosector.com\/?p=14091","title":{"rendered":"Could EV Fast Charging Be More Profitable Than Pumping Gas?"},"content":{"rendered":"

This article comes to us courtesy of\u00a0EVANNEX<\/a>, which makes and sells aftermarket Tesla accessories. The opinions expressed therein are not necessarily our own at InsideEVs, nor have we been paid by\u00a0EVANNEX<\/a>\u00a0to publish these articles. We find the company’s perspective as an aftermarket supplier of Tesla accessories interesting and are happy to share its content free of charge. Enjoy!<\/em><\/p>\n

Posted on<\/span>\u00a0EVANNEX on January 28, 2022,\u00a0by<\/span>\u00a0Charles Morris<\/p>\n

Why have the European oil companies\u00a0BP<\/a>,\u00a0Shell<\/a>\u00a0and\u00a0Total<\/a>\u00a0been buying up assets in the EV charging<\/a> value chain? In some markets, many of the fast-charging options are now owned by oil companies.\u00a0<\/p>\n

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Above: A Tesla Model 3 charging at a BP gas station (Source:\u00a0Charged<\/a>\u00a0via\u00a0BP<\/a>)<\/em><\/div>\n

Do the oil barons have a sinister motive? It wouldn\u2019t surprise us, but what would happen if the companies find that selling electrons is more profitable than selling distilled dinosaurs? According to BP, that potentially game-changing milestone may not be far away.<\/p>\n

Reuters reports that so far, EV charging has been a money-loser for BP and its rivals. BP doesn\u2019t expect its charging division to turn a profit before 2025. However, on a margin basis, BP\u2019s fast charging stations are getting close to delivering the same margins the company earns from pumping petrol.<\/p>\n

\u201cIf I think about a tank of fuel versus a fast charge, we are nearing a place where the business fundamentals on the fast charge are better than they are on the fuel,\u201d BP Head of Customers and Products Emma Delaney told Reuters. Rising demand for rapid chargers in Britain and Europe has already brought profit margins close to those for gas pumps.<\/p>\n

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