Utility Dive•about 1 month ago
Shell to sell ‘substantial portion’ of Volta EV business
Key Takeaway
Shell's quick divestment of Volta suggests significant challenges or a strategic re-evaluation within the rapidly evolving EV charging infrastructure market, impacting future investment and partnership considerations for developers and large power consumers.
AI Summary
- •Shell is selling a 'substantial portion' of its Volta EV charging business less than three years after acquiring it for $169 million.
- •This rapid divestment by a major energy company signals potential challenges, strategic shifts, or a re-evaluation of the profitability and scalability within the EV charging infrastructure market.
- •For developers and large power consumers, this indicates increased volatility or consolidation in the EV charging sector, potentially impacting future investment decisions, partnership opportunities, and the long-term stability of charging solutions.
Topics
financingm&a