BP bets on electric car switch with Britain’s Chargemaster

BP is buying Britain’s top electric vehicle charging firm Chargemaster and will initially roll out its ultra-fast chargers across its filling station network in the UK before turning its attention to China’s rapidly growing market.

Oil and gas major Royal Dutch Shell and carmakers Volkswagen (VOWG_p.DE) and Daimler have also made investments in the electric vehicle (EV) market, whose growth is being driven by a shift from polluting fossil fuels.

Like its rivals Shell and France’s Total, BP is planning to use its vast global network of filling stations to carve out a position in the EV market, with demand for petrol forecast to peak as early as the end of next decade.