Electric car charger firm is snapped up by Shell

OIL giant Shell has bought New Motion, the Dutch owner of one of Europe’s largest electric vehicle charging networks. The company manages more than 30,000 charging points in Europe and offers access to thousands more. It will operate in parallel to Shell’s programme of rolling out fast-charging points at its forecourts.

Some will be able to provide an 80pc charge in just 30 minutes.

With oil companies increasingly aware of the threats to their business from the electrification of transport, the takeover marks Shell’s first deal in electric mobility.

Some estimates say up to 3m public charging points will be needed in western Europe by 2030.

Shell’s chief executive Ben van Beurden said earlier this year: ‘We are not some sort of sitting duck that has nowhere to go with only one business model.’

However, the market response to the move was muted, and shares in Royal Dutch Shell A fell 0.2pc, or 4.5p, to 2300.5p.