BP ready to take over Tesla’s abandoned Supercharger projects

10 May 2024

Tesla's unexpected decision to sharply reduce its Supercharger network expansion has sent shockwaves through the electric vehicle industry. The company's move to lay off approximately 500 employees has left a vacuum in the market. Now, competitors – especially those in the traditional energy sector – are seizing the opportunity.

Oil and gas giant BP is one such player that is aggressively pursuing abandoned Tesla Supercharger sites. "We're constantly on the lookout for prime real estate to expand our network," says Sujay Sharma, CEO of BP Pulse Americas, emphasizing the company's ambition in light of Tesla's surprise move.

While Tesla CEO Elon Musk has clarified that the company is merely slowing down Supercharger expansion while upgrading existing hubs, it has still abandoned a bunch of locations that were in the early stages of development. Smaller players like Revel, an EV charging and ride-hailing start-up operating in New York, are also considering pouncing on opportunities in the state. Leaders at other major charging networks, such as EVgo, also view Tesla's retreat as a chance to increase their market presence.

This recent development points to a broader trend of legacy fuel companies transitioning into the EV charging space. Gas station chains like Pilot-Flying J and Love's Travel Stops are heavily investing in charging infrastructure. BP itself has pledged a massive $1 billion to its US EV charging network by 2030.

Last year, BP announced a $100 million order for Tesla charging hardware, signaling the potential for leveraging Tesla technology within its own network.

Could smaller operators capitalize on Tesla's pullback and establish a greater regional footprint? How will established gas giants adapt to become competitive players in this new energy landscape? Perhaps most importantly for consumers, will this competition ultimately make charging more convenient and affordable for EV owners? Will Tesla shift its business model to selling its charging hardware to third-party companies? This would explain the deal with BP. The coming months will shed some light on Tesla's future plans; for now, we are all in the dark.

Via