By Michael Elkins
British multinational oil and gas company BP (NYSE:BP) announced Thursday that the company’s electric vehicle charging business, bp pulse will install high-speed charge points at around 70 Marks and Spencer (OTC:MAKSF) (LON:MKS) retail outlets.
The energy company is ramping up to the pace of liquidating fossil-fuel assets to raise funds to invest in renewable-energy projects amid a global push for decarbonization by energy firms.
The first pilot charging sites are open at M&S Maidstone Eclipse and Southgate stores, with an initial target to install around 900 points, adding up to 40,000 kilowatt-hours of charging capacity within the next two years.
BP and M&S first teamed up in 2005 to introduce M&S Food stores at bp retail sites. More than 250 bp pulse charge points are already available at over 60 bp-operated forecourts, which also offer M&S Food.
Shares of BP are down 0.09% in mid-day trading on Thursday.