Shell to unload 1,000 retail locations in pivot to EV charging

“We are upgrading our retail network, with expanded electric vehicle charging and convenience offers, in response to changing customer needs,” Shell said in its 2024 Energy Transition Strategy report. The company plans to “divest around 500 Shell-owned sites a year in 2024 and 2025." The company's plans were first reported by Bloomberg News.

Shell said it will be focusing its efforts more in China and Europe, where the EV market is more developed and demand is high for public EV charging stations. Shell says it aims to increase the number of charge points it has from the 54,000 it operates today to 200,000 by 2030. Despite a recent slowdown in EV demand in the U.S., Shell believes the energy transition globally is one worth investing in, with the company highlighting investments in China’s EV industrial base in Shenzhen as well as Wuhan.

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