BP Teams With M&S To Expand Its EV Charging Network

• Petroleum giant BP plc's (NYSE: BP) electric vehicle charging business, bp pulse, has signed an agreement with retail giant Marks & Spencer Group Plc (OTC: MAKSF) (OTC: MAKSY).

• Under the agreement, the parties will work together to install an initial 900 electric vehicle charge points in around 70 of M&S' national stores in the next two years.

• The installation is anticipated to expand bp pulse's network, growing the U.K.'s charging network and adding up to 40,000 kWhs of charging capacity to the U.K.'s EV infrastructure.

• In order to provide the appropriate speed for each need, a combination of ultra-fast (≥150kW) and rapid (≥50kW) charge points will be installed during the roll-out.

• BP and M&S first teamed up in 2005 to introduce M&S Food stores at bp retail sites.

• BP said it is backing Britain with plans to invest up to £18 billion in the UK energy system by 2030.

• Price Action: BP shares are trading higher by 1.98% at $34.58 in premarket on the last check Thursday.

• Photo Via Company

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