For BP, car chargers to overtake pumps in profitability race [Reuters]
BP p.l.c. (BP)
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Source: Reuters
For BP, car chargers to overtake pumps in profitability race By Ron Bousso 5 Min Read * BP focusing on fast battery chargers, executives says * Fast chargers almost as profitable as petrol filling * BP and rivals targeting big growth in EV charging LONDON, Jan 14 (Reuters) - BP says its fast electric vehicle chargers are on the cusp of becoming more profitable than filling up a petrol car. The milestone will mark a significant moment for BP which wants to shift away from oil and expand operations in power markets and around electric vehicles (EV). EV charging has for years been a loss-making business as a whole for BP and rivals as they invest heavily in its expansion. The division is not expected to turn profitable before 2025 but on a margin basis, BP’s fast battery charging points, which can replenish a battery within minutes, are nearing levels they see from filling up with petrol. “If I think about a tank of fuel versus a fast charge, we are nearing a place where the business fu
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- BP p.l.c. (NYSE: BP) had its price target raised by analysts at Piper Sandler from $40.00 to $43.00. They now have a "neutral" rating on the stock.MarketBeat
BP
Earnings
- 2/7/24 - Miss
BP
Sec Filings
- 4/18/24 - Form 6-K
- 4/9/24 - Form 6-K
- 4/2/24 - Form 6-K
- BP's page on the SEC website