Shell Acquires Volta Charging in all cash deal valued at $169 Million

This morning Volta announced it has agreed to be acquired by Shell, the next step on its journey to accelerate the transition to electric mobility.

The transaction will bring Volta’s powerful dual charging and media network to Shell’s established brand and seeks to unlock robust, long-term growth opportunities in EV charging.

Vince Cubbage, Interim Chief Executive Officer, said, “The shift to e-mobility is unstoppable, and Shell recognises Volta’s industry-leading dual charging and media model delivers a public charging offering that is affordable, reliable, and accessible. While the EV infrastructure market opportunity is potentially enormous, Volta’s ability to capture it independently, in challenging market conditions and with ongoing capital constraints, was limited. This transaction creates value for our shareholders and provides our exceptional employees and other stakeholders a clear path forward.”

Cubbage continued, “Both Volta and Shell have a demonstrated ability to meet the changing needs of customers, and this acquisition will bring that experience together to provide the options that are needed as more drivers choose electric.”

#emobility #electriccar #batteries #evinfrastructure