LONDON — Oil company Shell has signed an agreement to buy electric vehicle charging firm NewMotion. It did not disclose terms.
The company, which will become a wholly owned subsidiary of Royal Dutch Shell, operates more than 30,000 private electric charge points for homes and businesses in the Netherlands, Germany, France and the U.K.
Shell has insisted it is planning for the day when demand for oil starts to fade. CEO Ben van Beurden has promised to look at "very aggressive scenarios" to remain competitive in a world that gets more of its energy from renewable sources and less from crude oil.
The Associated Press