shell comes to formalize the acquisition of Voltaa San Francisco-based company specializing in charging stations for electric vehicles. The company operates more than 3,000 charging points across the United States and Europe.
Shell seizes Volta
Unsurprisingly, Shell is showing growing interest in electrifying its infrastructure. To implement its strategy, the American firm decided to buy Volta, a company specializing in charging stations in the United States. Volta operates approximately 3,000 charging points in busy shopping mall or drugstore parking lots in 31 states in the United States and a few European countries.
The company plans to install 3,400 additional charging points during 2023, and new capacities to continue to develop, operate and monetize its infrastructures intended to grow the market for electric vehicles. Last year, Volta ranked second after Tesla in customer satisfaction for Tier 2 chargers. If Volta is attractive, it is thanks to its business model.
Indeed, beyond the charging service offered, Volta specializes in generating advertising revenue from screens integrated into its charging points. In concrete terms, recharging is free for users. Charging stations are funded by advertising. Advertising revenue generated by Volta make it a very serious player on the market. This strategy allowed him to obtain prime locations and important contracts.
The takeover of Volta by Shell, worth $169 million (155 million euros), should be concluded during the first half of 2023. Volta has still raised 200 million dollars since its inception. Today, its cash is exhausted and this probably explains the takeover announced by Shell. Volta is already the second American company specializing in charging stations to switch to the Shell brand. In 2019, the American group had already acquired Greenlots.
