bp today took its first major step into electrification in the US with the acquisition of AMPLY Power, an electric vehicle (EV) charging and energy management provider for fleets that operate trucks, transit and school buses, vans and light-duty vehicles.
This investment is aligned with bp’s plan to scale-up next generation mobility solutions, providing the fastest, most reliable and convenient network of charging and digital solutions for customers, including individual drivers and fleet operators.
By 2030, bp aims to nearly double earnings1 from its global convenience and mobility businesses – increasing from around $5 billion in 2019 – while delivering returns in the range of 15-20%. During this time, bp plans to grow its global network of EV charging points from around 11,000 today to more than 70,000.
Richard Bartlett, senior vice president, future mobility and solutions, bp “bp is aiming to speed up electrification in the fast-growing fleet segment, which is key to lowering emissions from the transport sector – the largest contributor to greenhouse gas emissions in the US.
As we continue to invest in new forms of infrastructure and technology to serve our global fleet customers, AMPLY Power provides an ideal opportunity to build our EV business in the US. They bring an experienced team, a rapidly expanding customer base and user-friendly digital platform.”
AMPLY Power’s innovative OMEGA Charge Management System software helps fleet operators manage energy costs and optimizes performance by providing real-time monitoring of EV charging operations and preventative maintenance for both vehicles and chargers.
Under the terms of the agreement, AMPLY Power will continue to operate independently as part of bp’s global portfolio of businesses. Financial details of the agreement are not being disclosed.