Photo provided by: bp
bp is investing in the future of mobility by highlighting several areas of its business. Alternative fuels, electric vehicle (EV) charging stations for heavy-duty vehicles, and improved customer experience are now central to the energy company.
- BP America Inc./Thorntons no. 7 upon CSP Top 20 in 20232 Ranking of US convenience store chains by number of stores.Travel Centers of America is no. 29.
The Chicago-based convenience store retailer acquired Travel Centers of America in 2023 for $1.3 billion. In Europe, we introduced the electric vehicle (EV) charging business “BP Pulse” in 2021.
According to BP, “This investment is a significant expansion of BP’s convenience and mobility business and is part of the company’s transition to an integrated energy company that will deliver long-term value to shareholders and the public over the long term.” “It will be.”
“Our mission is to put our customers first and provide them with a unified experience, enabling them to use bp products and services anytime, anywhere, and however they want.” Said Greg Franks,Senior Vice President of Mobility and Convenience for the Americas.
As bp expands its footprint in the United States, the company has listed several strategies to position itself as a leader in terms of mobility. Its strategy and goals are outlined below.
1. Expanding the provision of alternative fuels
As a result of the acquisition of TravelCenters of America, BP added approximately 280 retail stores along major U.S. highways. In total, the company’s brands ARCO/ampm, Amoco and Thorntons have nearly 8,000 retail stores in 46 states and the District of Columbia. Together, these brands make up bp’s Convenience and Mobility business, which the company says is one of its transition growth engines.
Network expansion allows consumers to access not only the company’s EV charging business, but also BP’s other transition growth engine businesses (convenience, biofuels, renewable natural gas and hydrogen), all in one place. Opportunities are created.
2. Invest in EV charging stations
In 2023, BP announced plans to invest $1 billion in EV charging globally by 2030. This includes building the Gigahub network, a series of large-scale fast-charging EV charging stations that will be installed often near airports and eventually at some of BP’s retail stores.
The company aims to have more than 100,000 bps of pulse charging points (approximately 90% rapid or ultra-fast) around the world by 2030.
BP is focused on growing its BP Pulse business in the United States, as well as the United Kingdom, China and Germany. The EV charging business will be profitable in 2 out of 4 markets in 2023, and BP expects its global operations to have positive earnings before interest, taxes, depreciation, and amortization (EBITDA) by 2025.
According to BP, nearly 1.2 million new EVs will be sold in 2023, an increase of 46% from the previous year, and many people are demanding greater availability of EV charging stations.
The U.S. is lagging behind other major countries in developing fast-charging networks that can enable long-distance travel and provide charging to consumers who don’t have chargers at home or at work. said the company.
3. Providing electrification solutions for medium and large trucks
Working with federal and state partners, BP aims to provide publicly accessible charging stations for medium and heavy-duty trucks.
The transportation sector accounts for approximately 29% of U.S. greenhouse gas emissions, so BP and Travel Centers of America are committed to supporting customers deploying electric trucks, the company said.
Federal and state governments are rapidly introducing regulations essentially aimed at accelerating the green clean energy revolution. For example, the Biden administration recently announced a strategy to install electric and hydrogen fueling stations along major U.S. freight routes.
The government’s goal is to create a widespread and affordable network for charging and refueling cars and trucks, with the aim of reducing emissions from the transport sector.
More than a fifth of that comes from medium- and heavy-duty trucks, which rely on oil-based fuels, BP said. The program will prioritize investments in approximately 12,000 miles of U.S. roads, including Interstate 80, which runs from Teaneck, New Jersey, to San Francisco.
4. Improving customer experience
As EV customers tend to spend more time and money on-site while charging their vehicles, bp aims to improve the customer experience.
This includes investments in new store layouts, on-the-go fresh food options, premium private label products and time-saving digital offers, the company said.
Our members help make our journalism possible. Become a CSP member today and enjoy exclusive benefits, including unlimited access to all content. Sign up here.
