Shell USA announced today that it has signed a definitive agreement to buy Volta Inc. in an all-cash deal that is valued at $169 million. This is the second electric vehicle charging network that has been purchased by the oil company.
As part of the deal, Shell will take over the charging network’s assets. These include more than 3,000 charge points across 31 states and territories. Although the majority of its charging stations are located in the U.S., it operates a handful of stations in France and Germany, too.
In addition to the charging locations that Volta has already set up, today’s disclosure also revealed that the company is developing a further 3,400 charge points. The existing stations are located at malls, grocery stores, pharmacies, and in other public areas.
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