Charging network operator, Volta announced this week that Shell USA Inc. will acquire all outstanding Class A common stock shares in the EV charging company for $0.86 each in cash. The deal is expected to be finalized before the second half of the year and seems like a total no-brainer. Shell and other big oil companies are perfectly positioned to make the expansion of an EV charging network possible in the most convenient ways, which may help to alleviate concerns about range anxiety.
By helping to grow a practical charging network, Shell can take advantage of early adopters, simultaneously becoming known as a reliable source of EV power in the future, when EVs may be the only form of transport open to us.
By expanding its reach into electric vehicle chargers, Shell will be prepared for a future with or without gasoline.
