The acquisition of AMPLY Power marks bp’s entry into the fleet charging segment. AMPLY Power is an electric vehicle (EV) charging and energy management provider for fleets that operate trucks, transit and school buses, vans, and light-duty vehicles.
bp has plans to scale up next-generation mobility solutions, as the company’s goal is to grow its global network of EV charging points from around 11,000 today to more than 70,000 by 2030. In addition it intends to nearly double earnings from its global convenience and mobility businesses, increasing from around $5 billion in 2019, while delivering returns in the range of 15-20%.
Richard Bartlett, senior vice president, future mobility and solutions said, “bp is aiming to speed up electrification in the fast-growing fleet segment, which is key to lowering emissions from the transport sector, the largest contributor to greenhouse gas emissions in the U.S. As we continue to invest in new forms of infrastructure and technology to serve our global fleet customers, AMPLY Power provides an ideal opportunity to build our EV business in the US…”
Founded in 2018, AMPLY Power aims to make EV adoption easy for fleets. Its vehicle charging platform offers uptime guarantees, offers remote diagnostics, and has automated demand response participation capabilities.
Vic Shao, founder and CEO, AMPLY Power said, “Now, with support and backing from bp, we can scale our approach to reach new markets while bringing our unique expertise to bp’s broader electric fleet initiatives. bp shares our sustainability values and commitment to technological innovation, making this an opportunity to create a lasting positive impact on the environment and the economy.”
Under the terms of the agreement, AMPLY Power will continue to operate independently as part of bp’s global portfolio of businesses. Financial details of the agreement are not being disclosed.
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