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BP Says Its Fast Charging EV Stations Will Be Profitable By 2025

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With the need for fast charging EV stations growing as more and more electric vehicles hit the roads, the Biden Administration recently unveiled plans to vastly expand the existing network in the coming years – which could include wireless chargers at some point. Meanwhile, Electrify America – one of the largest charging networks in the U.S. – also recently announced that it plans to more than double the number of chargers in its network by 2025. At the same time, many third-party EV charging companies have been struggling to turn a profit, but that apparently isn’t a concern for BP, the massive oil and gas company.

BP’s head of customers and products, Emma Delaney, told Reuters that the company’s fast charging EV stations will be profitable by 2025, and also revealed that those stations could soon become more profitable than gas pumps, too. To this point, EV charging companies, in general, have failed to turn a profit at all, so this marks a huge turning point in BP’s mission to move away from oil and into energy and electric vehicle charging.

“If I think about a tank of fuel versus a fast charge, we are nearing a place where the business fundamentals on the fast charge are better than they are on the fuel,” Delaney said. “Overall, we see a huge opportunity in fast charging for consumers and businesses, as well as fleet services more generally – that’s where we see the growth, and where we see the margins. We’ve made a choice to really go after high speed, on the go charging – rather than slow lamppost charging for example.”

BP’s EV charger sales grew by 45 percent from Q2 of 2021 to Q3, and the company currently operates around 11,000 chargers across the globe. By 2030, it plans to expand that number to 70,000. One of BP’s biggest rivals, Shell, plans to install tens of thousands of slower-charging points and upwards of 500,000 total chargers by 2025, but BP is sticking to the more expensive but more profitable fast chargers for now.

We’ll have more on the expanding EV charging network soon, so be sure and subscribe to Ford Authority for 24/7 Ford news coverage.

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Brett's lost track of all the Fords he's owned over the years and how much he's spent modifying them, but his current money pits include an S550 Mustang and 13th gen F-150.

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Comments

  1. Steve

    I hope they charge the crap out of these people, no pun intended, lol. Go BP, nail them with your fees. Oh you want a quick charge? Break out the Visa. Slow charge will cost much less but you end up spending all your money in the C store buying crap just because you’re bored so pay up sucka. LOL!!! Great busines plan, remember no free squeegee.

    Reply
    1. Stuart Brear

      Here is some real world experience using high speed DC chargers at a well known Canadian gas station chain on major highways across Ontario and Quebec. Each time I needed a washroom break, lunch and a short 5 minute walk around. In 45 to 50 minutes I got those plus 80% battery charge that took me 225 miles at 65 miles per hour with A/C and radio on the whole way. The charging cost…..almost $25 CDN or about $17.75 USD. That is less than 8 cents per mile. Our last car trip to the same destination, in an efficient ICE vehicle cost almost 21 cents per mile for gas. I still had to stop for the same reasons only a gas top up cost more and I couldn’t let the pump fill my car while I ate lunch.

      Reply
      1. Montana Man

        Ah…..logic, reason, common sense and facts.
        Thank you.
        It’ll make the Chickens Little still gripe and groan about the sky falling, but the same kind of people were doing that in the latter part of the 19th Century when it looked like automobiles would supplant the horse and buggy.
        They’re a silly lot, but entertaining for the rest of us.

        Reply
        1. Tigger

          No. It is about people buying the vehicle that they want that best suits their needs. The auto was a step up from the horse. With less range, higher price, and longer charge time than filling up a tank. EVs are a step backwards for many buyers.

          Reply
      2. Tigger

        40 to 45 minutes to get 4/5 a charge is still too much time. With my ICE vehicle I could fill up with a full tank that will take me 400 miles plus driving at 70 mph,+, grab some food for the road, and be half hour ahead of the EV owner on my journey. Until I can get a full charge in the same time or less and get the same range or more than an ICE vehicle, I will not consider an EV

        Reply
  2. George S

    I have not read one article what local and federal governments will do to replace all the gasoline taxes that will be lost with EV’s. There should be a sales tax and the electric bill for the charging stations will have a utility tax as our current electric bills have for your home. But what about the billions collected by the federal government to support our road infrastructure?

    Reply
  3. Montana Man

    It costs me $65 to get 300 miles in my 2011 F150 3.5L ecoboost motor. That includes taxes.
    Let’s assume, since electricity is lower in price than petrol fuel and the distribution cost is only a small percentage (as very safe assumption) of gasoline, it costs me $50—-with the same percentage of road tax paid—-to go 300 miles.
    I’m not going to nag, whine and complain about that. Those roads don’t pay for themselves (although I’d kinda prefer tolling public roads, at least in sections). In the end, the cost of maintenance of an electric F150 is substantially lower than that of the same truck with a gas motor.
    I’m not saving money in the long run, but I’m spending a lot less.
    Basic economic theory supports the overall benefit of electric vehicles for everyone.
    Well, maybe except Exxon Mobile. My heart weeps for the 1%.

    Reply
    1. Tigger

      Saving on oil changes and other routine maintenance is great until you have to pay thousands for to replace a motor or battery.

      Reply
      1. Stuart Brear

        Just to put things in perspective, an ICE engine replacement for a V6 turbo is over $15,000. A long range battery is presently $8000 but it has an 8 year 100,000 mile warranty. Does an ICE powertrain have such a warranty, not so much.
        An electric motor has no turbo to blow up and fill the engine with shards of steel and aluminum. If it quits, the damage is likely isolated to very few components. Just take a lesson from the aviation industry. The old reciprocating engines are far inferior to high rpm turbine engines with longer life, smoother operation and more reliability.
        Electric motors are better still, they don’t burn fuel and are very unlikely to suffer catastrophic failure. I speak from experience having driven and personally serviced ICE vehicles for over 55 years, flown aircraft over 40 years and experienced engine failures from both.
        I now own a 2021 Mach E, let’s see what the future holds.

        Reply
        1. Montana Man

          Thanks; I agree with your assessment and figures, at least in theory.
          It just makes sense.

          Reply
      2. Montana Man

        Okay, thanks.
        I hadn’t thought about it that way, but I guess you’re right; transmissions and/or fueled motors are just off-the-shelf affordable at $99.99, including installation.
        Damn these electric vehicles and high maintenance costs!
        A pox on Ford!

        Reply
  4. Ford Owner

    Installation cost for an electric station is much less that for a gas station. I have seen the huge excavation needed for the buried gas tanks, yet a charging station only need a concrete pedestal, and buried plastic pipe. Even I can afford to put up a 50 kW station on my property, having the utility transformer only 25 feet away.

    Reply

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