Shell plans to divest 1000 retail sites

Shell Plc plans to divest 500 retail sites annually over the next two years, responding to a growing demand for electric vehicle chargers.

“We are upgrading our retail network, with expanded electric vehicle charging and convenience offers, in response to changing customer needs,” Shell said in its latest energy transition strategy. “In total, we plan to divest around 500 Shell-owned sites (including joint ventures) a year in 2024 and 2025.”

The London-based major said it would focus on public chargers, increasing those to 200,000 by the end of the decade compared to 54,000 currently, because customers need them more than home charging. The company will roll out these in China, where it operates more than half its current recharging stations and Europe where demand is fast growing.

Full story at Shell Plans to Divest 1,000 Retail Sites in Shift to EV Charging - Bloomberg