An ‘exclusive’ story published by Reuters stating that BP has cut over a tenth of the staff in its BP Pulse EV charging business and pulled out of several markets has been refuted by the oil giant.
In a statement sent to Forecourt Trader, a spokesperson said: “BP Pulse is integral to BP’s transition from an international oil company (IOC) to an integrated energy company (IEC) strategy – it’s one of our five transition growth engines.
“Our EV ambitions have not changed. BP Pulse has adjusted its focus, particularly doubling down on four core markets - Germany, China, the UK and the US. This is a step towards ensuring that we can execute our goals with even greater precision and effectiveness. This includes continued significant investments in EV charging infrastructure, such as the deployment of thousands of fast and reliable chargepoints by 2025, with plans for further expansion by 2030.”
BP Pulse operates across 10 markets. In a ‘rewiring’ last autumn, it outlined its aforementioned four core markets and outlined three as growth markets (Australia, New Zealand and France). It also has joint ventures in Spain and Portugal, with Iberdrola, and in India, with Reliance Industries. Its previously laid out ambitions have not changed. In Convenience and EV charging, BP expects returns of more than 15% and plans to deliver EBITDA of more than $1.5bn in 2025.
