bp (NYSE: BP) has announced an acquisition deal between bp pulse, its EV charging business and Tesla (NASDAQ: TSLA). As part of the deal, Tesla will sell ultra-fast charging hardware units to bp pulse for a sum of $100 million. The purchase of these charging units will enable the expansion of bp pulse’s public network throughout the United States and also support EV fleet customers by deploying chargers at their private depots. This is a significant move as it marks the first time that an independent EV charging network has purchased Tesla’s chargers.
Starting from 2024, the roll-out of charging stations will begin at key sites across the bp family of brands, including TravelCenters of America, Thorntons, ampm, and Amoco. The charging stations will also be set up at bp pulse’s large-scale Gigahub™ charging sites in major metropolitan areas, and at third-party locations, such as Hertz locations, as part of previously announced collaborations. The first installation sites have already been identified in Houston, Phoenix, Los Angeles, Chicago, and Washington D.C.
In addition, select bp pulse fleet customer depots will have Tesla’s chargers deployed. By combining bp pulse’s industry-leading and intelligent charge management software, Omega, with Tesla’s fast and reliable chargers, bp pulse gains the ability to oversee the entire charging process for EV fleets, offering a comprehensive solution to its fleet customers.
“Strengthening the bp pulse network with Tesla’s industry-leading hardware is a major step forward in our ambitions for high speed, open access charging infrastructure in the US and advances our ambition to delivering an exceptional customer experience,” said Richard Bartlett, global CEO of bp pulse. “Combined with our vast network of convenience and mobility sites on and off the highway, this collaboration with Tesla will bring fast and reliable charging to EV drivers when and where they need it.”
Tesla and bp pulse have teamed up to install and operate ultra-fast EV chargers with an output of 250 kW. These chargers will be fitted with Tesla’s ‘Magic Dock’, which is compatible with both North American Charging Standard (NACS) and Combined Charging System (CCS) connectors. This means that vehicles from other major manufacturers that use CCS or NACS ports will be able to use the Tesla chargers on bp pulse’s network. To further enhance the user experience, the Tesla chargers will support the use of the Plug and Charge protocol, simplifying and automating payments. Tesla’s current policy is to feature third-party operated ultra-fast chargers that meet their reliability and functionality requirements in their vehicle UI and apps. BP pulse is committed to upholding these requirements on its network.
Rebecca Tinucci, Tesla’s Senior Director of Charging Infrastructure said: “At Tesla, we’re driven to enable great charging experiences for all EV owners. Selling our fast-charging hardware is a new step for us, and one we’re looking to expand in support of our mission to accelerate the world’s transition to sustainable energy. We appreciate bp’s partnership in this area – it’s the right step towards a more sustainable future. ”
“This is another example of how bp pulse is collaborating with leaders across the industry, in areas including real estate, charging technology and automakers, to advance EV infrastructure growth across the US, and to deliver the fast and reliable charging experience we know our customers demand.” said Sujay Sharma, CEO bp pulse Americas. “We remain open and committed to expanding alliances with EV industry leaders even further and we look forward to welcoming the growing number of EV drivers across the country to our network.”
Apart from the partnership with Tesla, bp pulse plans to expand its network of fast and reliable charging stations to high-demand locations, including airports, major cities, and bp-owned properties along Alternative Fueling Corridors. Additionally, bp has been granted funds from programs like National Electric Vehicle Infrastructure (NEVI) and California Energy Commission (CEC) to facilitate charging infrastructure at various sites in California, Pennsylvania, Colorado, and Kentucky.
In February 2023, bp announced its plan to invest $1 billion in America’s EV charging infrastructure by 2030, with an initial investment of $500 million in the next two to three years. Our five transition growth engines, namely bioenergy, convenience, EV charging through bp pulse, hydrogen, renewables, and power, comprised approximately 30% of bp’s total investments in 2022, up from around 3% in 2019.
