Shell to buy elec­tric ve­hi­cle charg­ing firm New­Mo­tion

Toronto Star - - BUSINESS -

LON­DON— Oil com­pany Shell has signed an agree­ment to buy elec­tric ve­hi­cle charg­ing firm New­Mo­tion. It did not dis­close terms. The com­pany, which will be­come a wholly owned sub­sidiary of Royal Dutch Shell, op­er­ates more than 30,000 pri­vate elec­tric charge points for homes and busi­nesses in the Nether­lands, Ger­many, France and the U.K.

Shell’s vice-pres­i­dent for new fu­els, Matthew Tip­per, says Thurs­day the deal will give cus­tomers “flex­i­bil­ity to charge their elec­tric ve­hi­cles at home, work and on the go.”

Shell has in­sisted it is plan­ning for the day when de­mand for oil starts to fade. CEO Ben van Beur­den has promised to look at “very ag­gres­sive sce­nar­ios” to re­main com­pet­i­tive in a world that gets more of its en­ergy from re­new­able sources and less from crude oil.

Shell says it is plan­ning for when de­mand for oil starts to fade.

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