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French energy giantTotal SE has set up London’s largest car charging network, further expanding its non-oil business as consumers accelerate the switch to fossil fuels.
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Total acquired Blue Point London from the Bolloré group, which gives itSource London’s charging network, according to a statement Tuesday. Electric mobility is a growth area for the European oil majors, including Total, which has already won contracts to install charging stations in Belgium andNetherlands.
Oil companies are investing in vehicle charging as European governments tighten rules on car emissions, reducing demand for gasoline and diesel. While utilities are also making inroads into the industry, oil majors benefit from their size and the number of sites they control through existing gas stations.
Source London has more than 1,600 street charging stations, representing more than half of the total operating in the city, Total said in the statement. The company will power the grid with electricity from renewable sources, he said.
Total expects the transaction to close by the end of the year. He did not disclose the cost.