Shell Buys Electric Vehicle Charging Firm

 According to Green Car Reports, Royal Dutch Shell is safeguarding future profits by acquiring NewMotion, a Dutch electric-car charging station firm with more than 30,000 electric-car charging stations across Europe. The company specializes in converting normal parking spaces into charging points for electric cars.

In the past year, the Netherlands, Norway, the United Kingdom, and France have all laid out plans to phase out the internal-combustion engine by no later than 2040. The regulations hit home for European oil producers Shell and BP more than Exxon or Chevron, both U.S.-based companies.

Shell is predicting global oil demand could peak by 2020. This is consistent with most studies predicting it will peak sometime within the next 5-15 years.

Read more: Green Car Reports

 

 

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