BP to Expand EV Charging Network to 40,000 Points by 2025 Amid Focus on Low-Carbon Energy
BP aims to increase its electric vehicle charging network to around 40,000 points by 2025, a rise from 29,000 in 2023, as part of its transition to low-carbon energy. The strategy is focused on key markets including the UK, US, Germany, and China.
By 2025, BP will allocate nearly 40% of its capital expenditure to growth in EV charging, hydrogen, and bioenergy, targeting $9 to $10 billion in EBITDA by 2030. BP's renewable energy initiatives include 20 GW of projects and a joint venture with JERA for a 13 GW offshore wind pipeline. The company surpassed emissions reduction goals, cutting Scope 1 and 2 emissions by 37% from 2019, while maintaining strong financial performance with a profit of $7.5 billion in 2025.
