The switch from vehicles to electric traction should logically erode the revenues of companies that sell hydrocarbon fuels. On the other hand, they will not stand idly by, and the British company BP is convinced that in the near future fast charging stations for electric vehicles will start to bring it profit. In fact, they will be more profitable than classic gas stations.
As explained Reuters Citing BP officials, the company’s business of building fast charging stations for electric vehicles will not generate revenue until 2025 in terms of profit margins. At the same time, BP management believes that charging a traction battery to 80% of capacity in the express way will soon be more profitable for the company than filling a full tank. The emergence of the BP network of fast charging stations across the UK and Europe is already making the core business almost as profitable as refueling ICE vehicles.
From the second quarter to the third quarter of last year, electricity sales at BP charging stations increased by 45%. Now the company has a network of 11,000 fast charging stations, but by the end of the decade it will increase their number to 70,000 units. According to experts, the business prospects for the migration of gas stations to electricity supply are largely determined by the presence of an extensive network near highways with high throughput. It is enough just to replace the equipment for refueling with charging stations and overhaul the infrastructure. BP believes solely in the potential of fast-charging stations, although competitor Shell is not afraid to develop a network of low-power charging points located near residential buildings. This company will set up 500,000 charging stations worldwide by 2030.