A major fuel retailer has acquired one of Australia’s biggest electric vehicle (EV) charging networks as petrol sales decline nationally.

As petrol sales decline nationally, a major fuel retailer has acquired one of Australia’s biggest electric vehicle (EV) charging networks.

Ampol will buy the Evie charging network for $225 million, adding over 1000 EV charging bays to bring Ampol’s network to a total of 1425 chargers across 400 sites.

In a statement, Ampol noted EV uptake had reached “a new stage of adoption” in Australia, with CEO Matt Halliday saying the company was closely monitoring the EV market.

“For Ampol, EV charging is ultimately a question of disciplined investment at the right time. That means closely monitoring customer behaviour, EV uptake, site economics, grid connections and the broader charging network to ensure our capital is deployed where it can create the greatest value,” Halliday said.

The company’s consideration of an electric vehicle-dominated future hasn’t come from nowhere.

Ampol began rolling out EV chargers in 2022, and in July of this year, its CEO said the company had to consider a future where declining sales meant that producing petrol at its Queensland refinery would become financially unviable.

“And as you’re seeing more and more EVs and hybrids come into the system, you need to produce less petrol and more diesel and jet [fuel] … How you can navigate that transition requires investment and that imbalance needs to be managed over time,” Halliday told the ABC at the time.

New electric vehicle sales overtook petrol car sales for the first time in August, with buyers flocking to EVs as conflict in the Middle East raised fuel prices.

Despite the recent record EV sales, hybrid and electric vehicles might not be the only reason fuel use is declining, with a report by the Australian Competition and Consumer Commission (ACCC) speculating last year that more freedom to work from home is another reason why people could be using less petrol.

However, diesel fuel sales remain strong in Australia, with limited practical options currently existing for hybrid or electric versions of vehicles that have traditionally been diesel, and are required to cover long distances in rural areas.

Diesel is also heavily used in essential industrial, transport, and farming applications, making its future more secure than that of petrol.

The deal will still require approval from the ACCC, and until then, Ampol and Evie will continue to operate independently.

Extracted in full from:  https://www.drive.com.au/news/ampol-buys-evie-ev-charging-network-as-petrol-sales-slip/

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