BP to Expand EV Charging Network to 40,000 Points by 2025 Amid Focus on Low-Carbon Energy
BP plans to grow its electric vehicle charging network to approximately 40,000 points by 2025, up from 29,000 in 2023. This expansion is part of BP's strategy to prioritize low-carbon energy and customer services, particularly in key markets like the UK, US, Germany, and China. By 2025, 40% of BP's capital expenditure will focus on transition growth engines, aiming for $9 to $10 billion in EBITDA by 2030 from EV charging and renewable investments.
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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.
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