BP buys EV charging provider AMPLY in green energy push

A British Petroleum (BP) sign is seen at a petrol station in south London July 29, 2008. REUTERS/Dylan Martinez /file photo

(Reuters) - Oil and gas major BP Plc said on Tuesday it had bought U.S. electric vehicle charging provider AMPLY Power for an undisclosed sum, stepping up efforts to cut emissions and focus on cleaner energy.

BP said it aims to double earnings from its global convenience and mobility businesses by 2030 and grow its global network of EV charging points by over six-fold to 70,000 during the same period.

California-based AMPLY Power was founded in 2018 and serves fleets that operate trucks, transit and school buses, vans and light-duty vehicles.

"BP is aiming to speed up electrification in the fast-growing fleet segment, which is key to lowering emissions from the transport sector - the largest contributor to greenhouse gas emissions in the United States," said Richard Bartlett, senior vice president, future mobility and solutions at BP.

Under the terms of the agreement, AMPLY Power will continue to operate independently as part of BP's global portfolio of businesses.

Last week, BP said it plans to set up a large-scale green hydrogen production plant in northeast England, generated with wind, water and solar energy to aid Britain's move away from fossil fuels.

(Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Ramakrishnan M.)

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