Economy

M&S agrees tie-up with BP to install up to 900 new charge points at its retail outlets

BP agrees to install up to 900 new electric vehicle charging points at 70 Marks & Spencer stores

  • Initially, up to 900 EV charging points will be installed at approximately 70 M&S stores
  • BP plans to invest up to £1bn building more than 100,000 chargers by 2030

Marks & Spencer has signed an agreement to have electric vehicle charging stations built in dozens of its stores by oil supermajor BP infrastructure supplier.

Under the terms of the deal, up to 900 EV charging points will initially be installed at about 70 of the retailer’s national outlets over the next two years, adding another 40,000 kilowatt-hours of charging capacity.

Fifteen charging devices have already been installed in Maidstone, Kent and Southgate, north London, as part of a pilot project that both companies say has been successful.

Linkage: Under the terms of the new agreement with BP, up to 900 electric vehicle charging points will initially be installed at approximately 70 of Marks & Spencer’s national outlets over the next two years

All new ‘pulse charging points’ have a minimum capacity of 50 kW, some have an ‘ultra-fast’ speed of 150 kW.

BP plans to spend up to £1 billion installing more than 100,000 chargers around the world by the end of the decade. According to the website, the group has built more than 9,000 in the UK to date.

Over the same period, the company expects to invest nearly £18bn in the UK energy sector, including offshore wind farms, solar panels and low-carbon hydrogen.

Akira Kirton, CEO of BP Pulse UK, said: ‘We aim to provide our customers with fast, reliable and convenient EV charging to suit their busy lifestyles, which is why we are delighted to be expanding our relationship with M&S . fast charging points in their stores, which further expands our network.

“This is exactly the kind of collaboration the UK needs to accelerate the transition to low-carbon transport, and we are delighted to be working with M&S to make that happen.”

BP’s relationship with the retailer dates back to 2005, when the first M&S ​​Simply Food outlets opened at the oil and gas giant’s service stations.

Akira Kirton, Ceo Of Bp Pulse Uk, Said: 'We Aim To Provide Our Customers With Fast, Reliable And Convenient Ev Charging To Suit Their Busy Lifestyles.

Akira Kirton, CEO of BP Pulse UK, said: ‘We aim to provide our customers with fast, reliable and convenient EV charging to suit their busy lifestyles.

More than 300 such outlets are now located at BP petrol stations in the UK, and more than 60 also have Pulse charging points.

Sacha Berendji, M&S’s director of operations, commented: ‘EV charging is the latest feature to ensure we have a storefront that is ready for the future, to help our customers live lower carbon lives .

“We know that services such as EV charging are in high demand from our customers, so we are excited to offer this service and give customers more reasons to shop with us.”

BP’s latest announcement comes as it faces heightened criticism over its failure to divest a 19.75 percent stake in Rosneft following Russia’s full-scale invasion of Ukraine earlier this year .

Oleg Ustenko, an economic adviser to Ukrainian President Volodymyr Zelensky, recently accused the FTSE 100 company of making “blood money” through its stake in the Russian energy sector.

Commenting on his comments, BP said: ‘Just three days after Russia’s attack on Ukraine, BP announced that we will end our stake in Rosneft and other companies in Russia – we said the attack was ‘a fundamental change’. This is still our position.’

It added that it had not received any dividends from Rosneft stock since the February attack and had no longer declared a share of Rosneft’s profits, production or reserves.

BP shares rose 0.6 percent on Thursday late afternoon to 466.85 pence. In the meantime, Marks & Spencer Group Shares were 0.4 percent higher at 122.65p.

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Jacky

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